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Middle East and Africa’s oil & gas industry sees a drop of 10.8% in deal activity in Q2 2020 – by admin

Middle East and Africa’s oil & gas industry saw a drop of 10.8% in overall deal activity during Q2 2020, when compared to the four-quarter average, according to GlobalData’s deals database.

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A total of 33 deals worth $11.29bn were announced for the region during Q2 2020, against the last four-quarter average of 37 deals.

Of all the deal types, M&A saw most activity in Q2 2020 with 33, representing a 100% share for the region.

In terms of value of deals, M&A was the leading category in Middle East and Africa’s oil & gas industry with $11.29bn.

Middle East and Africa oil & gas industry deals in Q2 2020: Top deals

The top five oil & gas deals accounted for 96.3% of the overall value during Q2 2020.

The combined value of the top five oil & gas deals stood at $10.88bn, against the overall value of $11.29bn recorded for the quarter.

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

1) Brookfield Asset Management, GIC, Global Infrastructure Management, NH Investment & Securities, Ontario Teachers’ Pension Plan and Snam’s $10.1bn acquisition of ADNOC Gas Pipeline Assets

2) The $575m asset transaction with Tullow Uganda and Tullow Uganda Operations by Total

3) Noy Fund’s $90m acquisition of Delek Group and Delek Energy Systems

4) The $58m acquisition of Cohen Development Gas & Oil by Union Investments and Developments and Yongil

5) ADNOC Logistics & Services’s asset transaction with Pleiades Shipping Agents for $53m.

Verdict deals analysis methodology

This analysis considers only announced and completed deals from the GlobalData financial deals database and excludes all terminated and rumoured deals. Country and industry are defined according to the headquarters and dominant industry of the target firm. The term ‘acquisition’ refers to both completed deals and those in the bidding stage.

GlobalData tracks real-time data concerning all merger and acquisition, private equity/venture capital and asset transaction activity around the world from thousands of company websites and other reliable sources.

More in-depth reports and analysis on all reported deals are available for subscribers to GlobalData’s deals database.

 

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