Banks beef up resources teams as deal flow continues

Cnooc’s elephant-sized acquisition of Nexen in July put the resources sector firmly on everyone’s radar and dominated headlines, but other resources deals have also been bubbling across the region.

During the first three quarters of this year, Chinese companies announced nearly $30 billion of overseas mergers and acquisitions deals in the oil-and-gas and mining sectors, according to Dealogic. That’s perhaps no surprise just as it isn’t a shock that such deals also top the charts for Australia’s inbound MA.

Total outbound MA from Indonesia stands at $1.7 billion so far this year of that, oil, gas and mining MA deals account for a whopping...