By LNG World News A British Petroleum (BP) logo is seen at a petrol station near the Burj Khalifa in Dubai August 29, 2012. REUTERS/Jumana ElHeloueh/File PhotoBy Ron Bousso
LONDON (Reuters) – The world’s top oil companies are back in acquisition mode, targeting smaller exploration and development firms to boost oil and gas reserves rather than the mega-mergers that followed previous slumps in crude prices.
Since late November, major oil companies have announced 11 deals worth more than $500 million (408 million pounds) each with a combined value of $31 billion, the clearest sign yet that oil executives are more confident a recovery is underway.
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