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…

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Mozambique Oil & Gas: Eni Huge Gas Deal to be approved within months

Mozambique’s long-delayed offshore gas project with Italy’s Eni could be approved within months, sources close to the deal said, sparking investments with the potential to transform one of the world’s poorest countries into a major energy player.

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Oil & Gas Markets: Exxon said to join Qatar to Look at Giant Mozambique gas deal

Exxon Mobil Corp. and Qatar Petroleum have teamed up to look at energy assets in Mozambique, home to some of the biggest natural-gas discoveries in a generation, according to four people with knowledge of their plans. The companies are considering buying stakes in gas fields owned by Anadarko Petroleum Corp. and Eni SpA, the people said, asking not to be identified because the matter is confidential. They have a strong relationship and often discuss potential investments,…

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Global Markets: Conflict in Iraq Sends Oil Price Soaring

Oil climbed to its highest price in nine months on Friday as insurgency in Iraq raised fears about the country’s oil exports.

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