APAC Crisis Response Report
Overcoming the COVID-19 Crisis:
An industry-led virtual round table tackling the massive challenges facing Asia’s E&P sector
5 May 2020
Although we may not be able to bring people together physically during these unprecedented times, we at the Energy Council remain committed to ensuring that industry leaders stay connected virtually. We recently gathered 14 industry leaders from the likes of Pertamina, PVEP, Sinopec, Medco Energi, Jadestone and JP Morgan, to name just a few, to form our inaugural APAC Crisis Response Group.
Are OPEC’s record production cuts sufficient to restore supply-demand balance? Where is funding for future Oil & Gas projects coming from? How is this changing Asia’s M&A landscape and who stands to gain from the low-cost environment? Just some of the issues raised.
Here are the key takeaways:
M&A activity in 2020 will be driven by the NOCs and Majors. We have entered into a buyers’ market and the NOCs and IOCs with strong balance sheets will be looking to capitalise on this low-cost environment to make high quality additions to their portfolios
Chinese firms are looking for acquisition opportunities to expand their position across Asia. They are looking for equity partners with experience in Oil & Gas to partner with them
US Private Equity firms are getting in contact with investment banks to examine opportunities in Asia following the downfall of US shale
The medium to long-term could see demand rise above pre-COVID-19 levels and oil prices rise higher than previous levels as barrels are taken out of the market.
Asia holds 9 of the world’s 15 fastest growing economies and the Oil & Gas industry will play a central role in the development of these economies over the next 20+ years.
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