Oil companies from emerging economies are responsible for more than half the sector's biggest mergers and acquisitions by value this year as state-controlled companies have exploited western groups' relative weakness to secure control of resources.
Emerging economy buyers, led by Chinese and Russian companies, paid $24.2bn of the total $48bn value of the 50 largest oil and gas deals agreed in the second quarter, according to PwC, the professional services firm. Such companies accounted for one-fifth of the total value of deals last year. M&A advisers expect state-controlled groups to remain active in the takeover market in the coming months, benefiting from sponsor governments' financial strength and less pressure than western companies over short-term performance.
