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
2 April 2026
Alongside a rapid continued build-out of renewables, China’s latest five-year plan stresses the value of domestic hydrocarbon production for energy security and calls for increased Russian gas imports
2 April 2026
The government is taking important steps to revive domestic production, lift investment and benefit from the geopolitical crisis even if more needs to be done in the longer term
1 April 2026
Golden Pass’s startup offers QatarEnergy a timely boost but may also force a difficult choice between honouring disrupted contracts and capitalising on soaring spot LNG prices
1 April 2026
It is not a case of if or when, but the length and magnitude of economic damage from elevated oil prices
