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Global oil and gas M&A hit US$395b in 2016 despite slow start: EY

Published Wed, Feb 8, 2017 · 09:50 PM

Singapore

Global oil and gas merger and acquisition activity ramped up from a slow start to the year to reach US$395 billion in 2016 compared to US$340 billion the year before even as deal volume fell 27 per cent year-on-year, EY Global oil and gas transaction review showed.

Against a volatile oil price environment, transactions took a back seat at the start of the year with a number of deals initiated but not completed.

But EY Global oil and gas transactions leader, Andy Brogan noted a shift in attitudes as "companies realise there may be a cost to inaction". With a consensus throughout the sector that "the worst is behind us", he projected the "m…

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