Global oil and gas M&A transaction continues to be active
Sinochem New Network News Although the economic uncertainties increase, global oil and gas industry M&A transactions will continue to be active in 2012. In 2011, the global oil and gas industry announced a total of 1322 M&A transactions, a 5% increase over the number announced in 2010; the total value of M&A transactions was US$ 317 billion, which is 7% lower than in 2010. Among them, 71 cases were worth more than one billion U.S. dollars worth of transactions, compared with 76 cases in 2010. This is the information displayed in the analysis report of the latest global oil and gas industry M&A transaction by Ernst & Young (E&Y).
Ernst & Young stated that in 2011, global oil and gas upstream M&A transactions accounted for approximately 72% of the total number of oil and gas M&A transactions, of which 562 cases of oil and gas upstream M&A transactions took place in the United States and Canada, accounting for 59% of the total. The largest M&A deal was that Kinder Morgan spent $38 billion to acquire El Paso.
Andy Brogan, head of global oil and gas M&A transactions at Ernst & Young, said that in 2011 global shale assets related M&A transactions amounted to US$66 billion. Up to now, most unconventional oil and gas resources M&A deals have occurred in the United States and Canada, but Brogan specifically pointed out that China’s unconventional M&A transactions are worthy of attention because China has the world’s largest estimated reserves of shale gas, accounting for about the world’s 19% of total shale gas reserves.
The report pointed out that in 2011, the global oil and gas downstream M&A transaction activity declined, and the transaction value fell slightly compared with 2010. Brogan believes that the greatest motivation for the downstream M&A transaction activity of oil and gas comes from the re-adjustment of business by international oil companies in order to increase capital efficiency. The current European refiners are struggling with the depressed market environment. It is reported that in the third quarter of 2011, 75% of European refiners had negative cash flow. Brogan said that this result reflects the fact that European refineries are aging and cannot keep pace with changes in the market. These refineries were originally designed to produce gasoline, and current European gasoline demand is declining.
Ernst & Young stated that in 2011, the number of global oil and gas downstream M&A transactions was 103, a decrease of 16% compared with 2010; the transaction volume was 38 billion U.S. dollars, which was a decrease of 2 billion U.S. dollars compared with 2010. The transaction volume of the top 10 oil and gas downstream mergers and acquisitions in the world accounted for 71% of the total transaction volume, including Berkshire Hathaway's $8.9 billion acquisition of Lubrizol and Ashland's $3.2 billion acquisition of international applications. Product Company (ISP). In 2011, about half of the global oil and gas downstream M&A transactions occurred in North America, with Europe and Asia accounting for 24%. Brogan believes that the downstream M&A transactions will continue to be active but may concentrate more on storage and midstream business than on the refining sector.
The report also showed that in 2011 the global oilfield services company's mergers and acquisitions transactions were more active, with an announced transaction value of US$37 billion, an increase of 15% from 2010. In 2011, the number of mergers and acquisitions transactions related to global oilfield services increased by nearly 64% to 177. Brogan continued to be optimistic about the 2012 oilfield services company's M&A transactions as some companies are seeking new businesses, new customers and new technologies.
Ernst & Young stated that in 2011, global oil and gas upstream M&A transactions accounted for approximately 72% of the total number of oil and gas M&A transactions, of which 562 cases of oil and gas upstream M&A transactions took place in the United States and Canada, accounting for 59% of the total. The largest M&A deal was that Kinder Morgan spent $38 billion to acquire El Paso.
Andy Brogan, head of global oil and gas M&A transactions at Ernst & Young, said that in 2011 global shale assets related M&A transactions amounted to US$66 billion. Up to now, most unconventional oil and gas resources M&A deals have occurred in the United States and Canada, but Brogan specifically pointed out that China’s unconventional M&A transactions are worthy of attention because China has the world’s largest estimated reserves of shale gas, accounting for about the world’s 19% of total shale gas reserves.
The report pointed out that in 2011, the global oil and gas downstream M&A transaction activity declined, and the transaction value fell slightly compared with 2010. Brogan believes that the greatest motivation for the downstream M&A transaction activity of oil and gas comes from the re-adjustment of business by international oil companies in order to increase capital efficiency. The current European refiners are struggling with the depressed market environment. It is reported that in the third quarter of 2011, 75% of European refiners had negative cash flow. Brogan said that this result reflects the fact that European refineries are aging and cannot keep pace with changes in the market. These refineries were originally designed to produce gasoline, and current European gasoline demand is declining.
Ernst & Young stated that in 2011, the number of global oil and gas downstream M&A transactions was 103, a decrease of 16% compared with 2010; the transaction volume was 38 billion U.S. dollars, which was a decrease of 2 billion U.S. dollars compared with 2010. The transaction volume of the top 10 oil and gas downstream mergers and acquisitions in the world accounted for 71% of the total transaction volume, including Berkshire Hathaway's $8.9 billion acquisition of Lubrizol and Ashland's $3.2 billion acquisition of international applications. Product Company (ISP). In 2011, about half of the global oil and gas downstream M&A transactions occurred in North America, with Europe and Asia accounting for 24%. Brogan believes that the downstream M&A transactions will continue to be active but may concentrate more on storage and midstream business than on the refining sector.
The report also showed that in 2011 the global oilfield services company's mergers and acquisitions transactions were more active, with an announced transaction value of US$37 billion, an increase of 15% from 2010. In 2011, the number of mergers and acquisitions transactions related to global oilfield services increased by nearly 64% to 177. Brogan continued to be optimistic about the 2012 oilfield services company's M&A transactions as some companies are seeking new businesses, new customers and new technologies.
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