| From Ogj.com: Worldwide sales of upstream oil and gas properties reached a record $107 billion in 2010, a 160% increase above 2009 transactions. NOCs and sovereign wealth funds (SWF) dramatically increased acquisitions of global upstream properties to feed their rapidly growing economies. Total NOC and SWF transaction value reached $32 billion or 20% of the global total in 2010, up from 13% of worldwide transaction value in 2009. Total global purchases by Chinese NOCs increased from $14 billion in 2009 to $26 billion in 2010.
IHS will present a comprehensive analysis of 2010 transactions and forward-looking insight into 2011 and beyond in its IHS Herold 2011 Global Upstream M&A Review, to be released in early March...........................................Full Article: Source
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