Oil price collapse drags on M&A appetite for sector

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Oil price collapse drags on M&A appetite for sector

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Tobolsk, Russia - July 15. 2016: Sibur company. Petrochemical Industrial Complex. Oil refinery building industry | Aikon - stock.adobe.com

London-listed Pharos Energy has withdrawn from talks to buy Egyptian assets from Royal Dutch Shell, as the historic rout in oil prices overnight took its first M&A scalp.

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