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The oil downstream - Downstream M&A activity - EY - Global

The oil downstream: vertically challenged?

Downstream M&A activity

  • Share

Downstream oil transactions
(Reported deal value)

Big oil's commitment to integration

Source: EY calculations from IHS Herold data.

Downstream oil transactions
(Number of deals, including deals without reported value)

Big oil's commitment to integration

Source: EY calculations from IHS Herold data.

Over the period 2001 – 2011, reported downstream M&A transaction value averaged about US$22 billion per year, with almost half of that in the refining subsegment.

The number of downstream deals averaged about 150 per year over the period, with deal activity ramping up sharply in the 2006 – 2008 period before falling back1. (Notably, biofuels transactions became more fully covered by IHS Herold starting in 2006.)

Integrated buyers and sellers have accounted for a relatively small portion of the downstream transactions, with integrated companies more likely to have been sellers than buyers.

Downstream oil transactions

1 "M&A Database," IHS Herold, Inc. website, accessed 5 January 2012.



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