The Italian Ambassador to Mozambique, Gabriele Annis, today in Maputo, welcomed the Mozambican government's decision to authorize Rovuma Venture, led by the Italian oil company Eni, to explore for natural gas, through the Coral Norte FNLG project, in Area 4 of the Rovuma Basin, in Cabo Delgado province. According to Annis, the Coral offshore project...
The government could lose more than USD 217.6 million due to the lack of timely certification of recoverable costs declared by gas project concessionaires, warns the Center for Public Integrity (CIP). According to an analysis by the CIP, these costs, which are of capital importance for state revenues, could have a negative impact on public finances, since...
Italian multinational Eni plans to invest three billion dollars in Mozambican companies in the technical and non-specialized goods and services sectors, says the Confederation of Economic Associations of Mozambique - CTA, following a meeting with the oil company. ENI shared its Local Content and Procurement Plans, highlighting the contributions of...
The Executive has approved the development plan for the Coral Norte FLNG project, for the development and production of 3.5 million tons over 30 years, in the Rovuma Basin, in Cabo Delgado province, the spokesperson for the Council of Ministers said today. "The government considered and approved the decree approving the development plan for the...
The Coral Sul FLNG natural gas extraction platform, in the Rovuma Basin in Cabo Delgado province, yesterday reached its 100th LNG shipment to the international market, in a context in which the ENI-led consortium has been in discussions with the government for over a year to introduce a...
ONGC Videsh Limited (OVL), the international arm of Oil and Natural Gas Corporation Limited (ONGC), the National Oil Company of India, approved, at the end of March, funding of 180 million dollars (Rs 1,500 crore) for a Liquefied Natural Gas exploration project, headed by the French multinational TotalEnergies. The amount will go towards...
The President of the Republic, Daniel Chapo, is going to renegotiate the contracts of the megaprojects that exploit natural resources in the country, because 20 years have passed and the country is no longer the same. Daniel Chapo said that over the last 20 years Mozambique has undergone profound changes, including the interests, expectations and vision of its citizens with regard to the exploitation...
The insecurity in Cabo Delgado province, caused by recurrent terrorist attacks, is compromising the confidence of international investors and the socio-economic development of Mozambique, according to the Center for Democracy and Human Rights (CDD). According to the CDD, despite recent positive signals from oil giants such as TotalEnergies and ExxonMobil to move forward with their projects...
The approval of a 4.7 billion dollar loan for TotalEnergies' liquefied natural gas (LNG) venture in Mozambique, if confirmed, will improve the prospects for the resumption of the huge project, which could have multiple positive benefits for Mozambique in the medium term, says Fitch Ratings. According to a publication by the agency...
The optimism of the resumption of the TotalEnergies project in Cabo Delgado province masks the real geopolitical interests and issues, according to the Center for Public Integrity (CIP). In this sense, the Civil Society Organization (CSO) defends a critical tripartite view of the implications of the multinational's return on the possible effects on politics, the economy and...