ENEOS to Acquire Chevron’s Downstream Refining, Marketing and Retail Assets in Southeast Asia and Australia

ENEOS Holdings to Acquire TPC Group to Expand U.S. C4 Chemicals Platform

August 7, 2026

Industrial Services

ENEOS Holdings has entered into a definitive agreement to acquire TPC Group, strengthening its position in the petrochemical C4 value chain. The deal covers TPC’s petrochemical operations in Houston, Texas, and terminal operations in Port Neches, Texas and Lake Charles, Louisiana, and is expected to close in October 2026 subject to regulatory approvals.

ADNOC Distribution to Acquire Shell Downstream South Africa

July 7, 2026

Retail

ADNOC Distribution has entered into a definitive agreement to acquire 100% of the share capital of Shell Downstream South Africa (SDSA) for an implied enterprise value of approximately $1 billion (subject to net debt and working capital adjustments). The deal is expected to close in 2027, subject to customary regulatory and other conditions precedent. After completion, ADNOC Distribution plans to sell a 28% stake in SDSA to a local empowerment partner and an Employee Stock Option Plan (ESOP), and will enter into a long-term brand licensing agreement to retain the Shell brand for retail service stations and lubricants in South Africa.

INNIO Group to Acquire Enerflex APAC Aftermarket Operations

February 25, 2026

Energy

INNIO Group has signed a definitive agreement to acquire Enerflex’s aftermarket business operations in Australia, Thailand, and Indonesia. The deal is intended to expand INNIO’s service capabilities and strengthen its customer proximity in Asia-Pacific, with closing expected in the second half of 2026 subject to regulatory approvals.

TotalEnergies Acquires SapuraOMV Upstream Gas Interests in Malaysia

December 10, 2024

Oil & Gas

TotalEnergies completed the acquisition of the upstream gas interests held by OMV and Sapura (each 50%) in SapuraOMV Upstream, giving it operated stakes in blocks SK408 and SK310 offshore Sarawak. The deal strengthens TotalEnergies' upstream gas position in Malaysia and secures additional feed for the Bintulu LNG plant while keeping production costs and emissions intensity low.

Chevron Acquires Equity Interest in American Natural Gas LLC (Beyond6) from Mercuria

October 1, 2021

Energy

Chevron U.S.A. Inc. closed its previously announced acquisition of an equity interest in American Natural Gas LLC (operator of the Beyond6 CNG fueling network), acquiring a network of about 60 compressed natural gas stations across the United States from Mercuria Energy Trading. The deal expands Chevron's alternative-fuels footprint and supports its strategy to grow lower-carbon and renewable natural gas distribution capabilities.

NEO Energy Acquires ExxonMobil North Sea Asset Portfolio

February 24, 2021

Energy

NEO Energy, backed by HitecVision, has agreed to acquire a portfolio of 21 non-operated oil and gas assets in the Central and Northern North Sea from ExxonMobil for more than USD 1 billion (with up to ~USD 300 million contingent). The deal materially increases NEO's production (adding ~40,000 boepd and >140 million boe of reserves), positioning the company among the top five UK oil and gas producers and supporting rapid near-term growth on the UK Continental Shelf.