Financial Woes To Spur M&A In Oil Industry: Report

Law360, New York (October 24, 2008, 12:00 AM EDT) -- The financial crisis will trigger more mergers and acquisitions for major oil firms and utilities that see opportunities for picking up new reserves on the cheap as smaller companies scramble to come up with funding, according to a recent report.

Big oil firms, including Exxon Mobil and Royal Dutch Shell Plc, are in a prime position to use the credit crunch to expand their reach into U.S. gas production and Canada oil production, bankers and analysts told Reuters.

Utilities, including Britain’s Centrica, France’s GDF Suez and...
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