China and Russia tops in oil deal-making

Emerging economy buyers, led by Chinese and Russian companies, paid $24.2 billion of the total $48 billion in major oil and gas deals in the second quarter, according to PricewaterhouseCoopers, as reported by the Financial Times.

“M&A advisers expect state-controlled groups to remain active in the takeover market in the coming months, benefiting from sponsor governments’ financial strength and less pressure than western companies over short-term performance.”