Top energy mergers and acquisitions in November 2026
Every verified merger and acquisition in the energy sector in this period, ranked by disclosed value. Updated every morning.
We tracked 12 deals in the energy sector in November 2026, 8 of them with a disclosed value, worth $22bn in total. The largest was Stonepeak's $10.1bn deal for Castrol, ahead of CVR Energy, Inc. and Marathon Petroleum's St. Paul Park and Mandan refineries and related marketing business at $4.2bn.
Top energy mergers and acquisitions in November 2026
- 12 NovStonepeak → CastrolStonepeak completes US$10bn purchase of majority stake in bp's CastrolEnergy / LubricantsCompleted$10.1bn
- 23 NovCVR Energy, Inc. → Marathon Petroleum's St. Paul Park and Mandan refineries and related marketing businessCVR Energy agrees US$4.2bn deal for two Marathon refineriesEnergy / Oil refiningAgreed$4.2bn
- 32 NovBlackstone-led investor group (with CPP Investments, OMERS, IMCO and PSP Investments) → Mitsubishi Corporation's LNG Canada interest (49.9% of holding subsidiary)Blackstone leads US$3.1bn investment in Mitsubishi's LNG Canada stakeEnergy / Liquefied natural gasAgreed$3.1bn
- 43 NovXRG P.J.S.C. (ADNOC) → Shell's 16.67% interest in the North West Shelf projectShell sells North West Shelf stake to ADNOC's XRG for US$1.45bnEnergy / LNGAgreed$1.5bn
- 54 NovARRAY Technologies, Inc. → Shoals Technologies Group, Inc.ARRAY and Shoals agree US$1.32bn all-stock solar equipment mergerEnergy / Solar equipmentAgreed$1.3bn
- 64 NovThe Andersons, Inc. → Harvestone Low Carbon Partners (HLCP)The Andersons agrees US$915m deal for ethanol producer Harvestone Low Carbon PartnersEnergy / Ethanol and low-carbon fuelsAgreed$915m
- 72 NovSelect Water Solutions → Pilot Water SolutionsSelect Water completes US$700m Pilot Water dealEnergy / Water midstreamCompleted$700m
- 82 NovTidewater Midstream and Infrastructure Ltd. → Tidewater Renewables Ltd.Tidewater Midstream to absorb Renewables unit in C$261m share dealEnergy / Renewable fuelsAgreed$187m
- 94 NovPT Pertamina (Persero) (via PT Pertamina Algeria Eksplorasi Produksi) → Moeve's entire interests in the Rhourde el Khrouf, Bir el Msana and Ourhoud fields, Berkine Basin, AlgeriaPertamina agrees to buy Moeve's Algerian Berkine oilfield stakesEnergy / Oil and gas upstreamAgreedUndisclosed
- 102 NovLS Power Equity Advisors → EVgo Inc.LS Power proposes US$2-a-share take-private of EVgoEnergy / EV chargingAnnouncedUndisclosed
- 112 NovHull Street Energy → FirstLight USAHull Street Energy completes FirstLight US hydro dealEnergy / Hydro and pumped storageCompletedUndisclosed
- 122 NovTotalEnergies SE → 30% operated interest in the Lang Lebah and B14 gas fieldsTotalEnergies takes operated stake in Malaysia's Lang Lebah and B14 gas fieldsEnergy / Upstream gasAgreedUndisclosed