Mozambique Oil & Gas: ExxonMobil Boss in Maputo

ExxonMobil’s Chief Executive Rex Tillerson and his counterpart at Eni Claudio Descalzi met Mozambique’s President Filipe Nyusi last Tuesday. The expectation is that a deal for the United States supermajor to acquire around a 20% stake in Eni’s offshore Area 4 – first reported in March – will be announced soon. However, even if declared, the deal could take up to six months to close depending how new tax legislation in Mozambique is applied. READ MORE HERE…