Citi: European Oil Majors Could Become Acquisition Targets ...Middle East

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Citi: European Oil Majors Could Become Acquisition Targets
source : OILPRICE ( Middle East ) () 32
Merger and acquisition activity in the United States oil and gas industry last year slumped to the lowest in 17 years as buyers became pickier. But besides being picky, they were also willing to spend, Enverus reported earlier this week. Now, Citi analysts are suggesting they may get even more generous with acquisitions. BP and Shell, the European supermajors, could become acquisition targets for their American peers Exxon and Chevron, the bank’s analysts said in a note this week, arguing that the Europeans’ stocks have been affected…

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