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...
The President of the Republic, Daniel Chapo, sent a message to the President of the United States of America (USA), Donald Trump, expressing his appreciation for the decision of the Board of Directors of the US Exim Bank to approve financing of 4.7 billion dollars for the Mozambique LNG Project. Daniel Chapo pointed out that the amount that will be disbursed...
The Association of Small and Medium-sized Enterprises (APME) has pointed to the lack of certification and financial capacity as an impediment to making more robust use of the opportunities that exist in the energy and mining sectors in Mozambique. The president of APME, Osvaldo Maúte, pointed to the obstacles that small and medium-sized companies face in capitalizing on the...
The Exim Bank of the United States of America will disburse five billion dollars in financing to the French multinational TotalEnergies for the development of the Liquefied Natural Gas (LNG) exploration project in Area 4 of the Rovuma Basin, in the province of Cabo Delgado. The TotalEnergies project has been suspended "Force Majeure" since...
Last year, the Mozambique Sovereign Fund (FSM) received 84.72 million dollars in revenue from the extractive industry, mainly oil and natural gas exploration. Overall, the FSM has already deposited 158.8 million dollars, including the amount for 2022 and 2023. The revenues are deposited in the Transitional Account based...
The President of TotalEnergies in Mozambique, Maxime Rabilloud, assured this week in Pemba that the project to explore liquefied natural gas (LNG) in Area 1 of the Rovuma Basin would continue. Cabo Delgado: TotalEnergies suspends subcontracts for Mozambique LNG project "Everyone knows that we are still in a Force Majeure situation. I even...
The American multinational ExxonMobil said yesterday in Maputo that it will contract 70% from Mozambican companies to supply goods and services for the Rovuma LNG project to explore natural gas in Area 4 of the Rovuma Basin, in Cabo Delgado province. Meeting with Mozambican and foreign suppliers, the Director of Public and Government Relations at...
The Brazilian company Petróleos Brasil (Petrobras) intends to acquire oil fields on the African continent and has already set its sights on three main countries, Angola, Namibia and South Africa, according to Petrobras' Director of Exploration and Production, Sylvia Anjos, in New Delhi, India. She said that the Brazilian state-owned company is in talks with oil companies...
TotalEnergies is suspending all its subcontracts with companies based on the Afungi peninsula in Cabo Delgado province. The companies have already been instructed to cease activities and contracts with thousands of workers. CCS Joint Venture (Chiyoda, McDermont and Saipem), for example, has already been ordered by the French multinational to...