Woodlands-based Anadarko on Tuesday said the company’s capital investment in Mozambique totalled $21 million in the first quarter, as it narrowed its losses in the first three months of the year, after reducing costs amid low oil and gas prices. “The partnership continues to work with the Government of Mozambique to progress the agreements and approvals required to support the investment,” Anadarko said.
Read MorePTT Exploration and Production Plc (PTTEP), one of the partners on Mozambique’s Offshore Area 1, revealed it expected the planned LNG development to start by the end of this year. According to the schedule, Phase 1 of the development should be completed by 2021, with an annual output of 12 million tons, 3.6 tons being delivered to Thailand through its parent company PTT Plc, Thailand’s national oil and gas company. Anadarko Petroleum, the operator of…
Read MoreThe participation of the China Petroleum Pipeline Bureau (CPP) in a 2,600 km pipeline to take gas from Mozambique to South Africa brings technical capacity and financial weight to a project that experts have previously warned looks too risky or expensive to fund, Interfax Global Energy reports.
Read MoreWoodlands-based Anadarko on Friday said it will slash its 2016 spending by almost 50 percent, and expects minimal funding in its Mozambique LNG project during the year.
Read MoreA special GRI Power Brokers feature on Adriano Maleiane. Mozambican Finance Minister Maleiane does not have an easy job. Yet his resolve has helped promote macroeconomic stability and encourage investment in one of Africa’s fastest-growing economies.
Read MoreThe exploration of natural gas in Mozambique needs to accelerate because, otherwise, the country may miss the opportunity, the chairman of state oil and gas company Empresa Nacional de Hidrocarbonetos (ENH) told financial news agency Bloomberg.
Read MoreMitsui’s chief financial officer, Keigo Matsubara said on Friday that a final investment decision on the Mozambique LNG project will be made by the end of March 2016. Reuters news agency quoted Matsubara as saying that the negotiations with the local governments are time-consuming. Initially, FID was expected before the end of 2015.
Read MoreDuring his official visit to Paris between July 19-21, Mozambique president Filipe Nyusiheld private talks with executives from Total and Alstom. Since 2012 Total has owned a 40% stake in blocks 3 and 6 operated by Malaysia’s Petronas in the Rovuma basin but up to now no finds have been made on the concessions.
Read MoreSales agreements for Rovuma LNG are being negotiated at a time when gas prices are more volatile than ever. Past projections for government revenue have been based on price forecasts for Asian LNG that are no longer credible due to shale gas production in the United States and plummeting international oil prices. Lower prices mean less government revenue and might put the future expansion of Rovuma LNG at risk, says the Mozambique Center for Public Integrity (CIP).
Read MoreLow natural gas extraction costs in Mozambique will allow Italian energy company Eni to produce liquefied natural gas (LNG) from the country that is very competitive, Chief Executive Officer Claudio Descalzi said on Wednesday, at the IHS CERAWeek in Houston, USA.
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