Two's company: GE's recent $32 billion merger deal for Baker Hughes has kept the mergers and acquiistions market on its toes Photo: REUTERS/SCANPIX

M&A activity on the rise as industry buys into trend

The dawn of the supermajor began nearly 20 years ago, and since then the appetite for combining forces across the upstream sector has increased

18 November 2016 0:00 GMT Updated 18 November 2016 0:00 GMT

By Eoin O’Cinneide London

When it comes to mergers and acquisitions (M&A) in the oil & gas market, what a difference two years makes — let alone 20.

November 2014 saw Halliburton agree to buy Baker Hughes for around $34 billion, but fast forward 24 months and the suitors switched, with Baker Hughes now part of GE Oil & Gas following a recent $32 billion merger.

Halliburton’s

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M&A activity on the rise as industry buys into trend