Asian NOCs Stay Home,For Now

摘要

The popular view of Asia's national oil companies(NOC)rampaging across the globe paying record sums for everything in sight needs revising - for this year at least Asia-Pacific merger and acquisition(M&A)activity is deathly quiet,with investors keeping their powder dry.With oil at record prices there is little appetite for overpriced assets.And many players are absorbed with domestic projects or exploration assets acquired in recent licensing rounds.But pressure to spend war chests overflowing with cash is building,and some tasty targets are emerging.