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Business

Asia braces for wave of oil and gas M&A

$40bn of assets owned by major Western producers could be up for grabs

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With the largest portfolios of Asian assets, Chevron and Shell plan to sell holdings in Thailand, Myanmar, Bangladesh, New Zealand, Malaysia and China.   © Reuters

DENPASAR, Indonesia --Merger and acquisition activity in Asia's energy sector will accelerate this year as crude oil prices stabilize and major Western oil producers seek to divest assets in the region, analysts say.

Royal Dutch Shell announced plans in late January to sell its stake in a Thai field to a Kuwait company for $900 million. Shell, Chevron, Total, ExxonMobil and Eni are believed to be willing to potentially sell up to $40 billion in assets, with disposals expected in Myanmar, Bangladesh, Malaysia, China and New Zealand.

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