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 performed during the quarter and developments in featured specialty subsectors.
Top Insights for This Edition Are Detailed Below
The numbers for Q2 2025 show 66 announced deals, with a total disclosed value of USD 72.1 bn. This represents a QoQ decline of 37% in the number of M&A transactions (38 deals), but an increase of 58% in terms of disclosed value (USD 26.5 bn).
North America led the M&A activity, recording 30 transactions with a total disclosed value of USD 52.9 bn. This represents 45.5% of global announced deals and 73.4% of the total disclosed value.
The top countries in LNG global commercial flows during Q2 2025 were the same as Q1 2025; with the U.S., Qatar and Australia being the main exporters and China, Japan and South Korea being the main importers.
M&A activity was significantly driven by 15 announced megadeals, 10 taking place in North America (seven in the U.S. and three in Canada). These accounted for 67.9% of the global disclosed value in the quarter.
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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