Asian firms on the lookout for acquisitions hoped the steep drop in oil prices would create new opportunities, but dealmakers say oil price volatility and senior managment changes at China's national oil companies have taken the gas out of the sector's regional MA activity.
Outbound oil and gas MA for Asia ex-Japan has slumped to $1.7 billion year-to-date, compared to $3.6 billion for the period a year ago, according to data provider Dealogic.
Globally, mega deals have shown signs of resurgence with Shell agreeing to buy BG group for $70 billion in April, but deal flow involving Asian buyers has remained muted.
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