Weak and volatile prices dulled M&A activity in 2016, with a few exceptions
It has been a tough old run for anyone trying to get deals done in the world's oil and gas sector. Just ask Halliburton. Its $28bn takeover of Baker Hughes collapsed, leaving it to watch as, a few months later, its target fell into a proposed merger with GE.
In 2015, global upstream deal value plunged, according to 1Derrick and PwC, which compile such data. The total number of deals wasn't down by much - just 31, to 1,537. But values were. Transactions amounted to just $150.86bn, a drop of almost a quarter from a year earlier.
Pushing mergers across the line was a problem everywhere. Several large, unsolicited corporate takeover bids were rejected and asset deal value fell to a 10-year low
Welcome to the PE Media Network
In 2021 Petroleum Economist is joined by Hydrogen Economist and Transition Economist to form the only genuinely comprehensive intelligence service covering the global energy industry
Want to read more?
Please choose from one of the following options: