Mozambican oil and gas company CMH chosen as company of the year in Mozambique

11 December 2009

Maputo, Mozambique, 11 Dec – Mozambican state oil and gas company, Companhia Moçambicana de Hidrocarbonetos (CMH) was chosen as Mozambique’s company of the year for 2008, consulting company KPMG said Thursday on presenting its annual report of Mozambique’s top 100 companies.

CMH, which was set up on 26 October, 2000, is a subsidiary of ENH, but part of its capital is listed and owned by private shareholders, and its main business activity is operations in the oil and natural gas sector in the Pande and Temane gas fields.

Several economic and financial indicators were used to determine the “Best Company for 2008”.

CMH was chosen, as it posted strong growth in turnover between 2007 and 2008, from 551.94 million meticals to around 1.346 billion meticals.

CMH was followed in the ranking by Ferro Moçambique, Cornelder, Construa and Ferpinta Moçambique.

In the KPMG survey, aluminium foundry Mozal topped the list of 100 biggest companies in Mozambique Maputo, a place it has occupied for several years, and it was also the company that posted the biggest profit in 2008. (macauhub)