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Thematic (Sector/Industry)

China Oil, gas and consumable fuels / Thematic (Sector/Industry)

<ul><li>A wave of mergers and acquisitions in the oil and gas sector has offered opportunities for Chinese companies to optimize their overseas assets, but uncertainty in the offshore investment environment is also rising, a report by a think tank part of state-owned oil giant China National Petroleum Corp. (CNPC) found.</li><li>The total value of global oil and gas mergers and acquisitions skyrocketed to more than $250 billion last year, including mega deals involving ExxonMobil and Chevron, making 2023 the largest upstream annual spend in more than a decade.</li><li>“The competitive landscape is reshaping, and the era of mega mergers in the industry has arrived,” Wu Moyuan, vice president of CNPC Economic and Technological Research Institute, said Wednesday at the release of the report.</li></ul>

A wave of mergers and acquisitions in the oil and gas sector has offered opportunities for Chinese companies to optimize their overseas assets, but uncertainty in the offshore investment environment is also rising, a report by a think tank part of state-owned oil giant China National Petroleum Corp. (CNPC) found.The total value of global oil and gas mergers and acquisitions skyrocketed to more than $250 billion last year, including mega deals involving ExxonMobil and Chevron, making 2023 the largest upstream annual spend in more than a decade.“The competitive landscape is reshaping, and the era of mega mergers in the industry has arrived,” Wu Moyuan, vice president of CNPC Economic and Technological Research Institute, said Wednesday at the release of the report.

Global Oil and Gas Consolidation Offers Chinese Firms Opportunities for Deals, Report Says 