Global Energy Deals Top $320 Billion In 2012

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A new study by Deloitte Consulting finds the value of energy mergers and acquisitions rose last year — even as the number of deals fell.

The total value of global energy deals climbed to $322 billion in 2012, up 7% from 2011.

The biggest single deal was the purchase by Russian oil giant Rosneft of Anglo-Russian competitor TNK BP.

But it’s activity in the U.S. and Canada that’s driving the pace of M & A activity. Roger Ihne is a principal in Deloitte Consulting’s Houston office,

“North American unconventional resources continue to attract by far the most attention in the world, and both domestic as well as just about every international player and investor is focusing their efforts on North America.”

Meanwhile, the overall number of global energy deals dropped 17% last year to less than 580. Ihne says the drop was partly due to political uncertainty over U.S. tax and fiscal policy.

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Andrew Schneider

Business Reporter

Andrew Schneider joined KUHF in January 2011, after more than a decade as a print reporter for The Kiplinger Letter...