US oil company ExxonMobil has announced that it has invested more than 20 million dollars in Mozambique since 2017 as part of its local content development strategy. According to a publication by Further Africa, which quotes the company's director of Public and Government Affairs in Mozambique, Armando Afonso, ExxonMobil plans to direct more investments in the economy...
Investors plan to abandon Rovuma natural gas project in Cabo Delgado
The British government wants to withdraw from the Rovuma basin natural gas project in Cabo Delgado province, confirmed TotalEnergies CEO Patrick Pouyanne. The issue is the volatile situation in Cabo Delgado caused by armed attacks. The news was first reported by the British daily Financial Times. Speaking...
TotalEnergies awaits approval of US bank financing for Cabo Delgado
The chairman and chief executive of multinational Total Energies said he expects the US Export-Import Bank (EXIM) to complete the approval of 4.7 billion dollars planned for the financing of its liquefied natural gas (LNG) project in Mozambique in the near future. The information was published by the Reuters news agency, which...
Cabo Delgado: TotalEnergies guarantees resumption of natural gas project in the Rovuma basin
TotalEnergies is committed to restarting the Liquefied Natural Gas project in the Rovuma basin in Cabo Delgado. This assurance was given by the chairman of the French oil company, Patrick Pouyanné, to the Mozambican head of state, Daniel Chapo. The meeting between the President of Mozambique and the chairman of TotalEnergies took place in the United Republic of Tanzania,...
Sovereign Fund still in a "water bath" waiting for the "ok" from the government and the Bank of Mozambique
The Mozambique Sovereign Fund (FSM), the state entity that will be responsible for managing revenues from natural gas from the Rovuma basin in Cabo Delgado province, is still inoperative. Created a year ago by Law No. 1/2024, of January 9, the Sovereign Fund is still in a "water bath" due to the lack of...
IMOPETRO seeks new fuel supplier for the country
The Mozambican Oil Importer (IMOPETRO) has launched an international tender to find a new fuel supplier for the country from next April. The quantities planned for import should ensure the availability of gasoline, diesel and JET for a period of six months. An IMOPETRO source quoted by Notícias said that there is...
Under pressure from ENI, Mozambique could lose 2.3 billion dollars in new gas contracts
The Mozambican state could lose more than 2.3 billion dollars over 25 years - 92 million dollars a year - in a new gas contract that ENI is forcing it to sign. According to the Center for Public Integrity (CIP), the multinational is pressuring Mozambique to sign a contract...
CIP denounces the lack of transparency in the management of the Sovereign Wealth Fund
The Centre for Public Integrity (CIP), a Mozambican non-governmental organization (NGO) believes that the management of the Mozambique Sovereign Fund (FSM) is not transparent and that the government's reports lack information. According to a CIP report on the subject, the Sovereign Fund is far from being a transparent institution in the management of...
TotalEnergies to support construction of Mozambique LNG terminal
TotalEnergies will support the construction of an LNG terminal in Mozambique to increase natural gas imports. French oil company TotalEnergies hopes to approve the construction of a liquefied natural gas import terminal in Mozambique by 2025 to help consumers in neighboring South Africa avoid a potential supply crisis. The first...
Area 4: ExxonMobil and Chart Industries sign agreement for Rovuma gas project
Last week, US oil company ExxonMobil announced an agreement with Chart Industries to supply IPSMR liquefaction technology for the Rovuma LNG project, in the Rovuma basin in northern Mozambique, the Gas World portal announced. This is a technology that provides significantly better efficiency and performance compared to...