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Report: 2016 is the year of acquisitions in the oil industry

After a very quiet 2015, Wood Mackenzie expects a lot of activity on the acquisition market for oil and gas companies in 2016.

Photo: Øyvind Hagen/Statoil

A new report from the analysts at Wood Mackenzie anticipates many acquisitions and mergers in the oil and gas sector in 2016.

2015 was very quiet around the world when it came to major takeovers. Only 15 deals worth over USD 1 billion were made, compared to 46 in the previous year. According to Wood Mackenzie, this is especially attributable to the drastically declining oil price.

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