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Mozambiquehub

ENI Group expands presence in oil exploration in Mozambique

30 May 2019
Italian group ENI has expanded its presence in Mozambique with the acquisition of three 10% shares in three oil exploration licenses, according to a statement released on Wednesday in Milan.

Fitch Ratings keeps Mozambique’s risk rating at “restricted default”

29 May 2019
Fitch Ratings has kept Mozambique's long-term foreign currency risk rating at "RD" or "restricted default," which was first given in November 2016, the agency said in a statement.

Cabo Verde calls for the creation of development bank of the Community of Portuguese Speaking Countries

27 May 2019
The proposal to create a development bank for the Community of Portuguese Speaking Countries (CPLP) may be discussed by the organisation's member states in July, the Cape Verdean deputy prime minister said on Saturday in Lisbon.

Cyclones Idai and Kenneth push Mozambique’s economy into contraction in 2019

23 May 2019
The economy of Mozambique is expected to contract in 2019, with the Economist Intelligence Unit (EIU) forecasting a negative rate of 2.2%, to grow again in 2020 and in the years to 2023, with the last year of the analysis seeing GDP growth of 7.5%.

Angola spends too much foreign currency on imports of food products

23 May 2019
The National Bank of Angola provided US$583 million in the first quarter to import food and US$198.1 million to import goods and services, said director Pedro Castro e Silva on Wednesday in Luanda.

Cahora Bassa hydroelectric facility sells 2.5% of its shares on the stock exchange

21 May 2019
Mozambique's Cahora Bassa hydroelectric facility (HCB) will sell 2,5% of the shares representing its share capital in a public sale reserved for Mozambican citizens and companies, the company's chairman said on Monday in Maputo.

Dingsheng Minerals to start exporting minerals mined in Mozambique in 2020

21 May 2019
Chinese company Dingsheng Minerals plans to start exporting 600,000 tonnes of ores extracted from Chibuto's heavy sand deposits in Mozambique in 2020, the Mozambican Transport and Communications Minister announced.

Insurance companies take a stake in BIG Moçambique bank

16 May 2019
Mozambican bank BIG Moçambique carried out a capital increase by taking on three new shareholders, insurance companies Hollard and Global Alliance of South Africa and Empresa Moçambicana de Seguros from Mozambique, the bank's executive director Mário Bolota said.

Trade between China and Portuguese-speaking countries increases by 11.62% in the first quarter

15 May 2019
Trade between China and the Portuguese-speaking countries grew 11.62% in the period from January to March 2019 to US$33.696 billion, according to official Chinese figures released by Forum Macau.

Government of Mozambique approves Rovuma LNG project development plan

15 May 2019
The Mozambican government has approved the development plan for the Rovuma LNG project to explore natural gas deposits in the Mamba zone of the Rovuma Basin Area 4 block, Italian group ENI said in a statement released in Milan.

Anadarko Petroleum announces new contract for the sale of natural gas to be extracted in Mozambique

14 May 2019
The Mozambique LNG1 Company has signed a natural gas purchase agreement with JERA Co. of Japan and CPC Corporation of Taiwan, the Anadarko Petroleum Corporation reported in Houston.

French group Total expected to be the new operator of the Area 1 block in Mozambique

10 May 2019
French oil group Total is expected to become the new operator of the Rovuma Basin Area 1 block in Mozambique after Chevron Corp. gave up buying Anadarko Petroleum Corp., according to reports released in the United States.

Anadarko Petroleum announces final investment decision in Mozambique on 18 June

10 May 2019
The consortium led by the Anadarko Petroleum Corporation on 18 June in Maputo will announce the final investment decision for the natural gas exploration project in the Rovuma basin, the group announced in a statement issued in the Mozambican capital.

Anadarko Petroleum resumes activity in Mozambique following security assurances

8 May 2019
The Anadarko Petroleum group on Wednesday resumed its activities in the north of Mozambique for the exploration of natural gas deposits in the Area 1 Block of the Rovuma basin, the group's chief executive said on Tuesday in Maputo.

Chevron Corp has until 10 May to present a new proposal to buy Anadarko Petroleum

8 May 2019
The Chevron Corp group has until 10 May to propose a review of its merger agreement with the Anadarko Petroleum Corp. group or to submit another proposal, Anadarko said in a statement issued on Tuesday in Houston.

Forum Macau wants more tourist cooperation with Portuguese-speaking countries

7 May 2019
Boosting exchange and cooperation in the areas of tourism, conventions and exhibitions is a key task in the framework of Forum Macau, the Secretary-General of Forum Macau said on Monday.

Occidental Petroleum Corp sells assets of Anadarko Petroleum in Mozambique to French group Total

6 May 2019
The Occidental Petroleum Corporation group will sell Anadarko Petroleum's oil and gas assets in Africa, notably in Mozambique, to French group Total for US$8.8 billion under a deal released on Sunday.

State Ports and Railways of Mozambique invest in the reconstruction of the line to Zimbabwe

6 May 2019
Mozambican port and railway company CFM will invest US$200 million in the reconstruction of the Machipanda line to provide better services and to process more cargo for landlocked countries, such as Zimbabwe, announced the chairman of the state company.

Anadarko Petroleum resumes negotiations with Occidental Petroleum Corporation

2 May 2019
Anadarko Petroleum will resume negotiations with the Occidental Petroleum Corporation as the latter's bid proposal is higher than that put forward by the Chevron Corporation, Anadarko said in a statement.

The Navigator Company group registers impairment due to project in Mozambique

30 April 2019
The Navigator Company group reported an impairment of 6.7 million euros and an additional provision of 12 million euros in 2018 due to its project in Mozambique, the Portuguese group said.
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