JP Morgan and Citi were the top mergers and acquisitions (M&A) financial advisers in the oil & gas sector for Q1 2021 by value and volume, respectively. JP Morgan advised on six deals worth US$19.8bn, which was the highest value among all the advisers. Meanwhile, Citi led in the volume terms having advised on 10 deals worth US$14.4bn. A total of 352 M&A deals were announced in the sector during Q1 2021, according to GlobalData, a leading data and analytics company.

According to GlobalData’s report, ‘Oil & Gas and Sector M&A Report Financial Adviser League Tables Q1 2021’, deal value for the sector increased by 66.7% from US$39bn in Q1 2020 to US$65bn in Q1 2021.

Aurojyoti Bose, Lead Analyst at GlobalData, comments: “Citi was the only firm that managed to advise on double-digit deal volume. It also managed to advise on some big-ticket deals that included three billion-dollar transactions, which helped it cross the US$10bn mark and occupy the fourth position by value.

“JP Morgan also advised on three billion-dollar transactions but the deal values were relatively higher, which helped the firm occupy the top spot in terms of value. While the average size of deals advised by JP Morgan stood at US$3.3bn, it was just US$1.4bn for Citi.”

RBC Capital Markets occupied the second position in terms of value with eight deals worth US$16.9bn followed by Barclays with three deals worth US$15.8bn.

RBC Capital Markets also occupied the second position by volume followed by Jefferies with seven deals worth US$3.5bn. JP Morgan occupied the fourth position by volume.