Oil Oil ppppGalp announced last week (14) its second high-quality oil discovery in Namibia. The column with significant quantities of "light" oil is located in the Mopane-2X well in block PEL83. The company announced its first discovery in the same block on January 26, in the Mopane-1X (AVO-2) area. The...
On Tuesday (12), the government approved, in the Council of Ministers, the regulations for the Mozambique Sovereign Fund (FSM), the implementation of which will begin next month. It is a regulation that materializes the Law creating the FSM, approved last December by the Assembly of the Republic (AR). "Our expectation is that all the work relating to...
The Temane Thermal Power Plant (CTT), a project that will produce 450 Megawatts of electricity, budgeted at 650 million dollars, will come on stream this year, according to the project plan and the government's prospects. CTT will be the first gas-fired power station of this size built in the country after the...
The general manager in Mozambique of the American oil company ExxonMobil, Arne Gibbs, said that safety conditions in Cabo Delgado province, especially in the regions where liquefied natural gas (LNG) projects are being carried out, are improving compared to previous years. ExxonMobil is leading the construction and operation of all...
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....