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Posts on ‘August 24th, 2021’

Merger Mania Is Over: Oil Deals To See Quietest Year In Decades

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Merger Mania Is Over: Oil Deals To See Quietest Year In Decades

Extracts

Sir Winston Churchill once admonished leaders to never let a good crisis go to waste, and Big Oil has rarely failed to heed the advice. Under normal circumstances, energy downturns have created perfect opportunities for deep-pocketed oil and gas heavyweights to land prime assets on the cheap. A good case in point: the last oil bust of 2016 was followed by a sizable number of huge M&A deals in the sector including the $60B tie-up between Royal Dutch Shell (NYSE:RDS.A) and BG Group, Canadian Oil Sands and Suncor EnergyEnergy, as well as a handful that fell through including the proposed merger between Halliburton (NYSE:HAL) and Baker Hughes (NYSE:BKR). read more

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