Logistics no barrier to deal making
The current M&A market environment is challenging, but deals can still get done
Price crashes in the oil market often lead to M&A activity. Indeed, four of the five majors in the form we know them today were forged in the aftermath of the late 90s slump—Exxon and Mobil and Chevron and Texaco joined forces in the US, while Total, Fina and Elf did the same in Europe. BP crossed the Atlantic to hoover up first Arco, then Amoco. And the last large-scale acquisition by a major—Shell’s swoop for UK-headquartered BG— also took place post the 2014 fall in prices. It stands to reason that the current environment should also offer opportunities for deal making. But will the unprecedented physical constraints imposed as a result of the global Covid-19 pandemic get in the way o
Also in this section
28 April 2026
Oil traders warning of $200/bl oil are wrong, and the market should be wary of proclamations that the impact of the oil shortage has only begun to be felt and a that a ‘harsh adjustment’ is coming—even for industrialised nations
28 April 2026
Restoring supply from Saudi Arabia, the UAE, Kuwait, Qatar, Bahrain and Iraq involves complexities far beyond simply adjusting operational controls
28 April 2026
Datacentres will guzzle power at a ferocious rate, but the impact on wider energy markets will be far more complex than previously thought
28 April 2026
The key energy player faces balancing regional routes, political complexities, and creating a clear strategic vision for energy security
