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Rising costs threaten Mozambique LNG
As security improves, TotalEnergies has other concerns
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BP Chevron ExxonMobil ConocoPhillips Shell TotalEnergies
Charles Waine
26 March 2020
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Majors’ divestment dilemma

Depressed oil prices are forcing large-cap producers to roll back spending. But will they continue to try to shed non-core assets?

The equity markets had long been in a mood to reward large-cap international oil companies (IOCs) that pledged a very similar diet of capital disciple. Targeted spending in only the projects offering the best returns, lowered costs and cash returned to shareholders were firmly in favour.  And high-grading the portfolio by divesting non-core or high-cost assets was a de rigeur part of the story. But no one expected or planned for an oil price of below $30/bl. Millions of extra barrels of oil have flooded the market in the past few weeks following the collapsed Opec+ talks. And the crisis is being aggravated by the Covid-19 pandemic, which has removed global energy demand on an unprecedented s

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Mozambique’s insurgency continues, but the security situation near the LNG site has significantly improved, with TotalEnergies aiming to lift its force majeure within months
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There is a bifurcation in the global oil market as China’s stockpiling contrasts with reduced inventories elsewhere
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24 July 2025
The reaction to proposed sanctions on Russian oil buyers has been muted, suggesting trader fatigue with Trump’s frequent bold and erratic threats
US oil sector faces complicated path
24 July 2025
Trump energy policies and changing consumer trends to upend oil supply and demand

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