Global Industry: ExxonMobil expects earnings to increase by over 140% by 2025

Global Industry: ExxonMobil expects earnings to increase by over 140% by 2025

U.S. oil major ExxonMobil has updated its growth plans and expects annual earnings potential to increase by more than 140 percent by 2025 from 2017 adjusted earnings, assuming an oil price of $60 per barrel and based on 2017 margins. Advertisements

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Mozambique Oil & Gas: “Arrests could hamper country LNG funding” – Petroleum Economist

Mozambique Oil & Gas: “Arrests could hamper country LNG funding” – Petroleum Economist

High profile arrests in early January related to Mozambique’s “hidden debts” scandal, made at the request of US prosecutors, are an unsettling reminder that the country still faces questions over its financial credibility. It is something those trying to fund LNG projects based on the massive gas reserves of the Rovuma basin could do without.

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Mozambique Oil & Gas: Is this the LNG year for Mozambique?

Mozambique Oil & Gas: Is this the LNG year for Mozambique?

Financial scandal and security issues are the latest challenges to be overcome in Mozambique’s long-delayed emergence into the world of LNG. However, a raft of off-take agreements for two major projects in the country’s north should make 2019 a pivotal year as investors move towards final investment decisions. These projects would represent Mozambique’s biggest foreign direct investments to date.

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Mozambique Oil & Gas: Anadarko working to sell 2 MTPA of LNG ahead of FID

Mozambique Oil & Gas: Anadarko working to sell 2 MTPA of LNG ahead of FID

Anadarko is making progress with the development of the vast gas resources discovered in its offshore block in Mozambique and is working on executing a sale contract for 2 MTPA of LNG a year prior to making the final investment decision.

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Mozambique: Anadarko promotes road safety as it readies communities for construction phase in Palma

Mozambique: Anadarko promotes road safety as it readies communities for construction phase in Palma

The Mozambique LNG Project, led by Anadarko, in partnership with the District Government of Palma and INATTER, has recently launched a road safety campaign in the district of Palma in Cabo Delgado.

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Mozambique Oil & Gas: “Mamba LNG to proceed, even if not presold” – Eni source

A senior Eni executive has said that all partners in the planned Mamba LNG project in Mozambique are ready to sanction it – even if not all its volume is committed to third parties. Eni said in its 2Q results that it expects a final investment decision (FID) for Mamba LNG in 2019.

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Mozambique Oil & Gas: Why do Companies Need to Secure Sales and Purchase Agreements (SPAs) in order to reach FID

Due to the significant investments associated with the development of an offshore natural gas field and construction of an onshore LNG facility, Mozambique LNG plans to secure long-term Sales and Purchase Agreements (SPAs) with LNG buyers.

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Mozambique Oil & Gas: Anadarko FID only in mid-2019 – report

Eager for foreign exchange inflows to finance the increasing deficit of the current account Mozambique will continue to wait for the  Final Investment Decision (DFI) of the Mozambique LNG project led by Anadarko Area 1 of the Rovuma Basin, in the province of Cabo Delgado, at least until mid-2019, according the latest report from the International Monetary Fund, @Verdade writes.

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