Big Oil back on the acquisition trail, eyeing smaller targets
Oil majors have struck 11 deals worth a combined US$31b in clear sign of recovery
London
THE WORLD'S top oil companies are back in acquisition mode, targeting smaller exploration and development firms to boost oil and gas reserves rather than the mega-mergers that followed previous slumps in crude prices.
Since late November, major oil companies have announced 11 deals worth more than US$500 million each with a combined value of US$31 billion, the clearest sign yet that oil executives are more confident a recovery is underway.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Energy & Commodities
BHP’s biggest rivals sit on the sidelines of Anglo M&A drama
ExxonMobil to take 18 to 24 months to hit full stride with Pioneer purchase
Oil settles down on US jobs data, steepest weekly loss in three months
Glencore Group nears deal for Shell’s Singapore oil refinery
Opec+ may need to tackle oil capacity conundrum next month
Gold flat ahead of US payrolls data, set for second weekly drop