(MENAFN) According to Deloitte's latest report, the number of completed merger and acquisition (M&A) transactions in the oil and gas industry reached 299 transactions in the January-June period of 2014 globally, one less transaction compared to the same period last year, Arab News reported.
During the first half of this year, the total value of deals increased by nearly USD40 billion globally, to reach USD141 billion, compared with USD102 billion registered in the first half of 2013.
In terms of countries, the United States and Canada accounted for 61 percent of all deal activity, while both Asia and South America saw increases in their share of the deal count rising nearly 20 percent and 50 percent, respectively.
"Largely because of geopolitical unrest that has curtailed production from Libya, Iraq, and Iran, commodity prices have remained relatively high for the first half of the year, and expectations for continued upward pressure on prices for the remainder of the year may make producers less likely to part with assets," Deloitte Middle East said in statement in relation to the released report.
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