With oil prices struggling to rebound to 2014’s highs of $100 per barrel, more exploration and production companies will be on the prowl for deals to fuse together or gobble up competitors, Moody’s said.
BP CEO Bob Dudley says he doubts there will be a surge of corporate consolidation in the energy industry – effectively a repeat of the mega deals in late-1990s bust that created mammoth oil firms – unless oil prices stay low for long.
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