Total oil & gas industry cross border M&A deals worth $7.68 billion were announced in Asia-Pacific Q4 2020, led by China Oil & Gas Pipeline Network’s $6.24 billion acquisition, according to GlobalData’s deals database.
The value marked a decrease of 48.1% over the previous quarter and a drop of 9% when compared with the last four-quarter average of $8.44 billion.
Asia-Pacific held a 37.59% share of the global oil & gas industry cross border M&A deal value that totalled $20.43 billion in Q4 2020. With a 30.64% share and deals worth $6.26 billion, China was the top country in Asia-Pacific’s cross border M&A deal value across oil & gas industry.
In terms of deal activity, Asia-Pacific recorded 53 cross border deals during Q4 2020, marking a decrease of 18.46% over the previous quarter and a drop of 8.62% over the last four-quarter average. Marshall Islands recorded 17 deals during the quarter.
Asia-Pacific oil & gas industry cross border M&A deals in Q4 2020: Top deals
The top five oil & gas industry cross border M&A deals accounted for 90.2% of the overall value during Q4 2020.
The combined value of the top five cross border M&A deals stood at $6.92bn, against the overall value of $7.68 billion recorded for the quarter.
The top five oil & gas industry cross border deals of Q4 2020 tracked by GlobalData were:
- China Oil & Gas Pipeline Network’s $6.24 billion acquisition of PetroChina Beijing Gas Pipeline and PetroChina Dalian LNG
- The $333.8 million acquisition of Philippine Tank Storage International (Holdings) by Keppel Infrastructure Trust and Metro Pacific Investments
- ADNOC Logistics & Services $168.4 million asset transaction with Hunter Group
- The $110 million asset transaction with Ionic Shipping (MGT) by General National Maritime Transport
- Delta Tankers’ asset transaction with TRF Ship Management for $71 million.
