COMPANIES 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 for $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.
