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Global oil and gas M&A deal count showing signs of life

The number of global mergers and acquisitions in the oil and gas industry in the third quarter reached 112 – up from 76 in the first quarter, but was still down from 142 in the second quarter and 149 a year ago, according to the information vendor PLS and Derrick Petroleum Services. But third-quarter deal value amounted to just $21bn, compared with $42bn in the year-earlier period. PLS said the improvement since the first quarter was the result of signs of global economic recovery, the stabilisation of oil prices in the $65-75 a barrel range and the sudden drop of US gas prices a month ago towards $2.50/'000 cubic feet – signalling a buying opportunity.

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