Goldman Sachs top M&A financial advisor for oil & gas: GlobalData

The firm was an advisor on 17 deals worth a total $214.4bn in the oil and gas sector

GlobalData, M&A, GoldmanSachs, Saudi Aramco, SABIC, Anadarko

Goldman Sachs has secured the top position in the latest mergers and acquisitions (M&A) league table of the top 10 financial advisers for the oil & gas sector based on deal value for the first three quarters (Q1-Q3) of 2019, according to GlobalDat.

The American multinational investment bank topped the rankings with a deal value of $214.4bn, by advising on 17 deals during the period. Bank of America Merrill Lynch stood at second position with $177.6bn earned on advising 20 deals.

According to GlobalData, which tracks all M&A, private equity/venture capital and asset transaction activity around the world to compile the league tables, Citigroup occupied third place with 25 deals worth $176.3bn.

Praveen Karnati, financial deals analyst at GlobalData, said: “Goldman Sachs retained its top position in terms of transaction value for the first three quarters of 2019. Overall, Goldman Sachs represented 14 companies that are on the sell-side, including Saudi Aramco’s agreement to acquire 70% stake in Saudi Industries from Public Investment Fund for $73.4bn and Occidental Petroleum’s acquisition of Anadarko Petroleum for $55bn.”

The oil & gas sector saw a decrease in deal value by 12% from $469.42bn in Q1-Q3 2018 to $384.76bn in Q1-Q3 2019. However, deal volume declined by 18% from 1,885 to 1,650.

Goldman Sachs, which topped the sector table, also topped GlobalData’s recently released global league table of top 20 M&A financial advisers. Bank of America Merrill Lynch secured sixth position in the global list.

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