M&A and the Energy Transition
The energy transition is affecting every aspect of the oil and gas industry, forcing the major players to re-evaluate how they do business. This is especially stark in the mergers and acquisitions space. However, the ongoing crisis in Europe, caused by the Russian invasion of Ukraine, has exacerbated this issue. As Andy McAuslan, Vice President M&A of bp, put it at the AIEN International Energy Summit, “why would you invest in anything at the moment when you have no idea what is going to happen?”. Andy noted that if a company has a good ESG story, it can probably still attract money, but