The business sector in Cabo Delgado suggested this Tuesday the withdrawal of French investment in natural gas projects in the Rovuma basin, claiming that the discovery of natural gas has created instability in the north of the country. According to the president of the Cabo Delgado Business Council, Mamudo Irache, French investments in Area 1...
Four wells will be drilled this year for hydrocarbon research and prospecting in Mozambique, according to an official source. Two of the wells will be drilled in the Angoche region, one in the Búzi area and another in the PT5-C area operated by Sasol, a source from the National Petroleum Institute (INP) told "Notícias". This will be the...
Mozambique has potential gas reserves capable of generating revenues of around 100 billion dollars during its life cycle, according to a report by Deloitte, consulted today by MZNews. "Gas is expected to bring in around 100 billion dollars in revenue for Mozambique during its life cycle,"...
The Bank of Mozambique (BdM) could be legitimized as the operational manager of the Sovereign Fund at the end of February or beginning of March, through an agreement to be signed between the financial institution and the government. According to the national director of Economic Policies and Development at the Ministry of Economy and Finance (MEF), Enilde...
The CEO of TotalEnergies said today that the French oil company is not far from having everything ready to restart work on natural gas exploration in Cabo Delgado, northern Mozambique. Speaking during the presentation of the company's 2023 results in London, Patrick Pouyanné assured that: "we are mobilizing the contractors again...
The Prime Minister of Italy, Giorgia Meloni, announced on Monday that Mozambique and other African countries will benefit from a cooperation fund worth 5.5 billion euros. The fund is part of the strategic cooperation plan called the "Mattei Plan", which aims to stem the flow of migrants to that country in particular and Europe in general....
A group led by TotalEnergies will probably resume work on a liquefied natural gas project in Mozambique early this year, writes the Bloomberg news agency quoting the International Monetary Fund, IMF. "Security conditions in the north continue to improve and the large LNG project that was halted in April 2021 should...
OPEC announced on Wednesday that it is maintaining its estimates for growth in world oil demand for 2024 and 2025, at 2.2% and 1.8% respectively, despite persistent geopolitical uncertainties. For this year, analysts from the Organization of the Petroleum Exporting Countries (OPEC) forecast global demand of 102.1 million barrels per day, while for...
The President of the Republic (PR), Filipe Nyusi, stressed that the discovery of natural gas in Mozambique has put the country on the map of major producers of the resource and opened up a range of possibilities and desire for investment in the sector. "The discovery, in 2010, of one of the largest natural gas reserves in the world, changed the...
The International Monetary Fund (IMF) believes that parliament's approval of Mozambique's Sovereign Wealth Fund (SWF) is an important step towards ensuring "transparent and sound management" of natural resources. In a statement on Monday, the IMF announced the approval of the third assessment of the assistance plan for Mozambique, allowing the disbursement of a new...