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Strategy

Upstream M&A Needs Price Stability

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Global upstream M&A activity has been mostly sluggish this year due to geopolitical uncertainty, market volatility and ongoing capital constraint, even as balance sheets improve. We expect stronger deal flow in 2023 as select companies pursue advantaged deals and others rationalize for energy transition objectives. Price volatility will remain a challenge for deal execution.

Topics:
M&A, Corporate Strategy , Independent E&Ps, NOCs, Majors, Regional Integrateds
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