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...
Category: Oil & Gas
Post
OPEC maintains world oil demand growth estimates for 2024 and 2025
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...
Post
Discovery of natural gas has widened the scope for business in Mozambique
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...
Post
IMF: "Creation of the Sovereign Wealth Fund is an important step towards transparent management for Mozambique"
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...
Post
TotalEnergies promises to analyze controversial oil projects in Uganda and Tanzania
TotalEnergies announced last Thursday that it will analyze two oil projects in Uganda and Tanzania, criticized for their environmental impact and consequences for the population, a mission led by a specialist in economic development in Africa. A report published on the Green Savers portal states that the former Prime Minister of Benin, Lionel Zinsou, founder and...
Post
Nyusi guarantees that TotalEnergies could return to Cabo Delgado in the 1st quarter of 2024
The President of the Republic, Filipe Nyusi, revealed on Thursday that the Mozambique LNG project, located on the Afungi peninsula, in Cabo Delgado, led by the French oil company, TotalEnergies, could resume in the first quarter of next year. According to Nyusi, who was speaking during a ceremony to welcome the Mozambican community in the diaspora, on the occasion of...
Post
Nyusi: "Rovuma natural gas revenues could reach 75 million dollars"
Revenues from natural gas extracted by the Floating Liquefied Natural Gas Platform (FLNG) of the Coral Sul project, installed in the Rovuma basin, Cabo Delgado province, could reach 75 million dollars in favor of the state. According to the President of the Republic, Filipe Nyusi, by the end of this year the platform will complete...
Post
Cabo Delgado: Resumption of the gas project is the sole responsibility of TotalEnergies, according to the French government
The resumption of the liquefied natural gas exploration project on the Afungi peninsula, in Cabo Delgado province, is the sole responsibility of the TotalEnergies oil company and the Mozambican state, according to the French Secretary of State for Francophone Development and International Partnerships. Chysoula Zacharopoulou clarified that due to the nature of the private...
Post
Sovereign Wealth Fund: Government plans to save 40% from gas exploration revenues
The draft law creating the Mozambican Sovereign Fund provides for an accumulation of 40% of revenue from mineral resource exploration projects in the first 15 years and 50% from the 16th year onwards. The plan is to finance the state budget with the remainder. Annual gas exports...
Post
Eni Rovuma: Salaries of foreigners are 20 times higher than those of Mozambicans in the gas project
Foreign citizens hired to work on the Coral Sul Area 4 gas project, developed by Italy's ENI Rovuma Basin, earn salaries between eight and 20 times higher than Mozambicans in the same company, with equivalent technical qualifications and doing the same job. There are around 200 Mozambicans working on the platform. The complaint...