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Figure 4 : South America oil and gas deals by sector 2007-08
Europe
Oil and gas deal activity in Europe was relatively upstream and midstream value was up on the
resilient compared to the big fall in volume back of a series of deals for North Sea assets and
elsewhere. Deal numbers rose 64% from 77 to Enbridge's US$1.6bn sale of a 25% stake in its
126 and total deal value was down 15% Spanish pipeline business, Compania Logistica de
compared to a 38% drop worldwide. Indeed, Hidrocarburos.
Figure 5 : Europe oil and gas deals by sector 2007-08
Russia & CIS
Deal activity was far more subdued in the Russian the region's O&G deal value was in the upstream
Federation in 2008 with deal numbers down to 33 sector. This was significantly higher than the 62%
from 41 the previous year. It was deal values, upstream share worldwide outside the region. The
though, that saw the bigger drop, falling by remainder of Russian and CIS deal activity was
around two thirds across all the main deal activity split evenly between the midstream and
sectors. Not surprisingly, the vast majority, 82%, of downstream with only one service sector deal.
Figure 6 : Russian Federation oil and gas deals by sector 2007-08
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