BP announced this Sunday (27) that it intends to exit its 19.75% stake in Russian oil giant Rosneft. This move follows as a consequence of Russia's invasion of Ukraine. If confirmed, the British oil company will put a sudden end to 30 years of operation in the oil-rich country of Russia. Britain's BP...
The Russian-Ukrainian war could bring advantages to Mozambique and Angola in terms of diversification of European energy markets, since the impact of the conflict will be reduced in the short term. This projection is from the consultancy Fitch Solutions that believes in a minor impact of the war in these two African countries due to the reduced trade flow with...
Mozambican businessmen foresee good business prospects with the country's accession to the Gas Exporting Countries Forum (GECF), even though they are aware of the challenges yet to be overcome. The president of the Confederation of Mozambique's Economic Associations (CTA), Agostinho Vuma, believes that this good news may catapult national businessmen to analyze business opportunities,...
The President of the Republic, Filipe Nyusi, sealed today in Doha, capital of Qatar, the accession to the Forum of Gas Exporting Countries, marking a significant pact in the projection of Mozambique to become one of the largest producers and exporters of gas. "From a small exporter to the Southern region and Africa, we will become part of the...
The Brent oil barrel price for April delivery opened higher today, rising 2% on the London futures market to $97.33, which represents a new high since September 2014. Oil prices are rising again due to rising tensions in Ukraine, after the president of the...
The exponential rise in oil prices in the international market is putting pressure on the survival of companies engaged in the marketing of fuel in Mozambique. As the newspaper Notícias reports, available data indicate that in February 2021, for example, a barrel of oil was traded at 62.28 dollars and reached its...
Fears of a Russian military invasion of Ukraine are rattling the crude oil market. This Monday oil prices rose by more than two dollars to just above $96 a barrel. International media are saying that Russian forces may start an invasion as early as tomorrow, 16...
The Organization of Petroleum Exporting Countries and allies (OPEC+) announced Wednesday that it will continue to moderately increase oil production despite pressure from major consumers for further supply increases after crude prices hit seven-year highs. OPEC+, which produces more than 40%...
The Chairman and Managing Director of TotalEnergies, Patrick Pouyanné reiterated on Monday the will of his company to contribute to the sustainable development of Mozambique and allow an access to energy for the largest number of people. Patrick Pouyanné made this statement on the occasion of the inauguration, in Maputo city, of the first station of the new network...
TotalEnergies CEO, Patrick Pouyanné, said Monday that the oil company intends to resume the natural gas project in Cabo Delgado later this year. "We are ready," the official assured, in Maputo, after a meeting with the President of the Republic, Filipe Nyusi. The natural gas liquefaction project in the Rovuma Basin -...