In this edition of our Global Oil and Gas M&A Outlook, we examine and evaluate current trends for commodities prices, leading sector indicators, valuation developments, M&A deals conducted and developments on featured specialty subsectors during Q4 2023.

Top Insights

In 2023, the global oil market experienced a surge of supply from non-OPEC nations such as Guyana, Brazil and the U.S. The United States achieved a surprising production boost equivalent to the entire Venezuelan production of oil.
Global exports of LNG reached 107.2 MMt in Q4 2023, representing a 9.5% increase from Q3. The U.S., Australia and Qatar represent 60% of the total global LNG exports.
In terms of disclosed value, upstream activity was the exclusive driver in QoQ growth, which increased from USD 20bn to USD 172bn in Q4 2023.
In Q4 2023, 18 megadeals valued at USD 179.2bn (92.5% of global disclosed value) were executed. North America (U.S. and Canada) continues to be the most active M&A market accounting for 47% of global disclosed deals and 85% of the worldwide disclosed value.

Global Oil and Gas M&A Outlook–Q4 2023

The Kroll Oil and Gas team understands the idiosyncrasies of the global sector and offers following knowledge through this report. (i) Project and structured commodity finance advisory and asset-based lending advisory. (ii) Joint venture audits, financial joint venture management and preparation of cost certificates. (iii) Valuation of Exploration & Production assets, commercial contracts, etc. and (iv) Development or tariff/rate models for midstream and downstream assets.

We hope you find this report helpful in understanding the current trends in the global oil and gas sector. If you would like to receive further information or discuss any of the findings, please contact us.

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