IS a barren year for oil industry deal activity finally coming to an end? So far there’s been US$86bil (RM364bil) of takeovers announced, pending or completed, according to data compiled by Bloomberg. If things continue at those rates through December, it will be one of the most lacklustre years for energy deal-making in two decades. Saudi Arabian Oil Co is finally growing close to an equity swap with Reliance Industries Ltd after years of gestation, people with knowledge of the matter told Bloomberg this week. Take the Reliance-Aramco deal, which is expected to see the world’s largest oil company swap between 1% and 2% of its equity for a 20% share in the largest refinery.
