The consultancy Capital Economics foresees 3.0% growth for the Mozambican economy this year, but warns of the risk to investment due to instability in the north of the country, in particular due to the suspension of the liquefied natural gas exploration project
Oil & Gas
IMF minimizes the impact of Total's project suspension for the national economy
The Resident Representative of the International Monetary Fund (IMF), Alexis Meyer Cirkel, expects a robust recovery of the Mozambican economy in the short and medium term, stressing that there will be no major impact from the suspension of Total's LNG Project in Afungi, because the level of interconnection of the domestic economy to this project is still very low
Suspension of gas project had direct impact of $116 million
Palma district had an estimated direct negative impact of $116 million
MIREME awards scholarships to Mozambican students in the oil and gas fields
The Ministry of Mineral Resources and Energy (MIREME) will soon launch a competition for 40 scholarships to study undergraduate hydrocarbons in Malaysia and Germany
"Military intervention without social development actions will create oil enclaves"
Analysts said today that a foreign military intervention unaccompanied by social and economic development actions in Cabo Delgado will create "oil enclaves" in the multinationals' areas of operation, but "will not eliminate the armed insurgency"
"Cabo Delgado stage of the natural resources curse"- analysts point out
Experts have no doubts that Cabo Delgado is the stage for the "natural resources curse
Europe finally decides to eliminate emissions. Farewell combustion engines
After several pressures from environmental groups, Transport & Environment included, the European Union has finally come forward with an end date for combustion engines
Africa Oil Week: Oil conference in Cape Town is illegal due to pandemic
The director of government relations at consultancy Hyve, which organizes Africa Oil Week (AOW) in Dubai, said the competing conference in South Africa is illegal due to rules about gatherings during the pandemic
Mozambique highlights potential of new oil and gas prospecting areas
Minister of Mineral Resources and Energy Max Tonela, told Lusa that the new oil and gas prospecting areas in the country are showing preliminary signs of potential for exploration
IEA estimates that global gas demand will recover in 2021 and reach record highs
Global gas demand will recover this year from the shock of the covid-19 pandemic in 2020 and exceed 4 billion cubic meters for the first time, according to the International Energy Agency
"Total will assume responsibility towards contractors" - Government
The Mozambican government said Wednesday that TotalEnergies will "assume its responsibilities" towards the companies contracted for the gas project in the Rovuma basin, admitting that it is "a process that will take some time".
Italian Eni maintains gas exploration project in Cabo Delgado
Italian company plans to start operating the natural gas exploration unit on the Afungi peninsula in 2022. Project consists of underwater wells and floating installation with production of 3.4 million tons