Africa Data Development Energy Finance Gas Oil

Oil & Gas deals total US$28B in Q2 2020 fueled by Africa & Middle East

Total oil & gas industry deals for Q2 2020 worth US$28.01B were announced globally, according to GlobalData’s deals database.

The value marked an increase of 106.2% over the previous quarter and a drop of 68.1% when compared with the last four-quarter average of US$87.85B.

In terms of number of deals, the sector saw a drop of 30.5% over the last four-quarter average with 405 deals against the average of 583 deals.

In value terms, Middle East and Africa led the activity with deals worth US$11.29B.

Also read: Construction of Dangote oil refinery Africa’s largest nears completion

Oil & gas industry deals in Q2 2020: Top deals

The top five oil & gas deals accounted for 63.6% of the overall value during Q2 2020.

The combined value of the top five oil & gas deals stood at US$17.83B, against the overall value of US$28.01B recorded for the month.

The top five oil & gas industry deals of Q2 2020 tracked by GlobalData were:

  • Brookfield Asset Management, GIC, Global Infrastructure Management, NH Investment & Securities, Ontario Teachers’ Pension Plan and Snam’s US$10.1B acquisition of ADNOC Gas Pipeline Assets
  • The US$5B asset transaction with BP by Ineos Group
  • Bluescape Energy Partners, Elliott Management and Fidelity Management & Research’s US$1.4B private equity deal with CenterPoint Energy
  • The US$750M private equity deal with DoublePoint Energy by Apollo Global Management, Double Eagle Energy Holdings, FourPoint Energy, Magnetar Capital and Quantum Energy Partners
  • Total’s asset transaction with Tullow Uganda and Tullow Uganda Operations for $575m.

Source: OilnewsKenya via CrudeMix Africa

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