LONDON (Feb 1): A sharp pick up in deal-making in the oil and gas sector in recent weeks has scope to accelerate as oil prices recover, advisory company EY said in a report. While the number of deals in 2016 dropped year-on-year by 27 percent, their value rose to $395 billion from $340 billion in 2015. Exxon Mobil BP, Total and Statoil all signed major deals in the last few weeks of the year. A number of deals were initiated but not completed amid ongoing volatility," Andy Brogan, EY Global Oil and Gas Transaction Leader said. A total of 1,024 upstream deals were struck last year with a combined value of $130 billion.

Source: The Edge Markets February 01, 2017 00:00 UTC