Mozambique: “Rovuma LNG set to transform GDP growth” – Standard Bank

Mozambique: “Rovuma LNG set to transform GDP growth” – Standard Bank

The Rovuma LNG is expected to attract between US$27bn and US$32bn investment, transforming Mozambique’s GDP growth, according to a study by Standard Bank.

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Global Oil & Gas: Galp Cuts Investment Plan, Sees Higher EBITDA Growth

Portuguese oil company Galp Energia cut its spending target for the next five years by around 20 percent and trimmed its output growth forecast, but slightly increased its earnings growth forecast after delivering a better-than-expected 2016 result.

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Africa Extractive Industry: Mineral resources to boost Mozambique economic recovery this year

Greater economic growth this year will be driven by exploration of mineral resources, such as coal, which is expected to register a substantial increase due to increased prices, increased demand from Indian companies and the efforts of the companies themselves in 2015/2016 to improve efficiency, according to Economist Intelligence Unit (EIU).

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Africa Extractive Industry: Commodity shock knocks continent’s growth prospects – World Bank reports

World Bank has lowered its 2016 growth forecast for Africa to 3.3%, from 4.2% previously, after the continent expanded by only 3% in 2015; the slowest pace of growth since the 2009 global financial crisis and well below the 6.8% levels experienced by the continent between 2003 and 2008.

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