Q1 analysis: Venturing deals still concentrated in non-core areas, more exits reported in the first quarter, average deal size dropped slightly
There has been a general shift in the focus of oil and gas corporate since 2014. Most of the disclosed investments by oil and gas corporate investors over the past decade have been going into non-core areas, such as cleantech, IT, mobility and transport technologies. This trend went on through the first quarter of 2021 as well.
Last year was eventful and challenging for the oil and gas industry. The outbreak of the covid-19 pandemic and lockdown orders around the globe heavily affected both the demand and supply side, causing oil prices to fluctuate between $20 and $30 a barrel in the first quarter of last year, with West Texas Intermediate (WTI) contracts even entering negative territory in April 2020. Oil price recovery has been somewhat slow but it has returned to a level, making it feasible for most producers to stay in business, considering that breakeven prices for most…
