Maputo's new partner
An American oil giant will take the lead in the Rovuma
It seems Mozambique's offshore gas business will get a new master in 2018: ExxonMobil. The US supermajor has already agreed terms—both with the vendor, Eni, and the Mozambican authorities—to take a joint operator stake in Area 4 of the Rovuma Basin, and the deal should close before the end of 2017. It's likely, too, that Exxon will live up to the rumours and take the operator stake in Anadarko's adjacent Area 1. Eni reached a final investment decision (FID) on a floating liquefied natural gas plant for Area 4's Coral South field last June, just after announcing Exxon's involvement. The terms of the deal leave Eni as upstream operator for the whole area, and in charge of Coral South FLNG, whi
Also in this section
13 May 2024
OPEC+ has huge amounts of spare capacity amid a tightening market, but nothing can be taken for granted given unclear economic trajectories and geopolitical unrest
13 May 2024
But optimism about island nation checked by competition around African upstream investment and history of false dawns
10 May 2024
The US’ contentious LNG permitting pause has prompted criticism from CEOs and wildly differing interpretations from politicians
9 May 2024
Pipeline boosts Canada’s oil industry by widening its export options, making it less reliant on US market and bringing Asia into the mix