Global Q4 2025 M&A Quarterly | Strong Uptick Closes Out Quiet Year For M&A
M&A in 2025 was subdued overall, with geopolitical and market uncertainty leading to buyer and seller caution. This was particularly evident in Q2/Q3, as the…
Read MoreBrazil M&A | KUFPEC enters Brazil with 20% acquisition of pre-salt Orca Project from Shell
On 3 February 2026, Kuwait Foreign Petroleum Exploration Company (KUFPEC) announced the acquisition from Shell of a 20% non-operating stake in the Orca and Sul…
Read MoreWelligence Latin America Q4 2025 M&A Quarterly | Argentina and Brazil continue to lead M&A activity
Latin America Q4 2025 ended with five deals announced, keeping pace with the five deals in Q3 2025 and surpassing the three deals in Q4…
Read MoreGlobal M&A | Global upstream deal-making in January 2026
Seven transactions were announced in January 2026, down from 10 in December 2025. CLIENT ACCESS REQUEST ACCESS
Read MoreArgentina M&A | YPF continues portfolio transformation towards pure play shale with US$575 million Manantiales Behr sale
On 16 January 2026, YPF announced the sale of its Manantiales Behr conventional asset, along with three associated oil transport concessions and field inventories, to…
Read MoreWelligence Cote d’Ivoire M&A | SOCAR takes 10% in Baleine and enters Côte d’Ivoire
SOCAR’s acquisition of a 10% interest in the Baleine deepwater field in Côte d’Ivoire provides the Azerbaijani national oil company with immediate exposure to producing…
Read MoreBrazil M&A | Brava expands Campos position as PETRONAS repositions and exits Tartaruga Verde & Espadarte Mod. III
On 16 January 2026, Brava announced the acquisition of PETRONAS’ 50%, non-operating interest in Tartaruga Verde and Espadarte Module III in the deepwater Campos Basin.…
Read MoreWelligence Mexico M&A | LUKOIL makes first divestment as Grupo Carso expands upstream portfolio
On 19 January, Grupo Carso announced the acquisition of Fieldwood Mexico, a subsidiary of LUKOIL, for US$600 million, comprising US$270 million cash and the assumption…
Read MoreWelligence APAC | What to look for in 2026
Asia Pacific upstream in 2026 is shaping up to be a catalyst-driven year, with portfolio rationalisation accelerating alongside a renewed push to explore frontier basins…
Read MoreWelligence Sub-Saharan Africa Q4 2025 M&A Quarterly | A late rebound in an otherwise selective M&A year
Sub-Saharan Africa upstream M&A saw a late-year rebound in Q4 2025 as deal-making returned after a quiet third quarter. Transactions in Nigeria, Angola and Namibia…
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