Norwegian energy intelligence company Rystad expects that the market demand for large-diameter offshore pipelines, known as trunklines, will see an annual drop of 26% this year.According to Rystad, the length of total installations this year is forecasted to reach 2…
Islamist insurgents have captured a heavily-defended port in the far northern Mozambique town of Mocimboa da Praia, close to the site of natural gas projects worth some $60 billion, local media reported on Wednesday.It was one of several attacks…
French oil major Total has signed a $14.9 billion senior debt financing agreement for its massive liquefied natural gas (LNG) project in Mozambique, the biggest project financing ever in Africa, it said on Friday.The project includes the development…
Cairo-based African Export-Import Bank has committed $400 million in loans and guarantees to Mozambique's $20 billion liquefied natural gas (LNG) project, the multilateral lender said on Thursday.Afreximbank's move follows a similar commitment…
French oil major Total has secured $15.8 billion in funding for its massive liquefied natural gas (LNG) project in northern Mozambique, according to South African lender FirstRand's local unit, FNB Mozambique. Total declined to comment.In a press release published on Wednesday…
South African petrochemicals giant Sasol Ltd has opted to give up its license to explore for gas off the Mozambique coast, the company said on Sunday.'Sasol will return Block 16/19 in its entirety to the Government of Mozambique. To this end…
Partners in Mozambique LNG, the $20 billion gas project led by Total, have received a $2.25 billion guarantee from the government that it will pay the state oil company's equity share if required, Portugal's Lusa news agency said.Carlos Zacarias…
Occidental Petroleum Corp will write down the value of its oil and gas properties by up to $9 billion this quarter and restructure some debts to avoid a possible default, the company said on Thursday.The U.S. oil producer is trying to shed nearly…
According to Wood Mackenzie’s analysis, the oil price crash wiped US$1.6 trillion off the valuation of the global upstream industry.Andrew Pearson, vice president, upstream, said: 'This figure captures the impact of Wood Mackenzie’s downgraded…
The companies that operate offshore drilling rigs for major oil producers face a second wave of bankruptcies in four years amid a historic drop in energy prices that likely will leave surviving drillers more closely tied to big oil firms.A collapse of the offshore industry will have broad impact…
The U.S. EXIM Bank has amended its previously approved September 2019 direct loan supporting U.S. exports for the development and construction of the Total-operated LNG project located on the Afungi Peninsula in northern Mozambique.The original scope of the $4…
Mozambique's National Petroleum Institute expects Exxon Mobil's final investment decision on a $30 billion gas project in the north of the country in 2021, it said on Wednesday, though the U.S. company dismissed this as speculation.'The final…
South Africa's Rand Merchant Bank (RMB) confirmed on Thursday that it is part of a consortium of banks providing $15 billion funding for French energy major Total's Mozambique liquefied natural gas (LNG) project.Sources told Reuters last week that Total had secured $14…
French energy major Total has secured $14.4 billion funding for its Mozambique liquefied natural gas project in Mozambique, two sources said on Wednesday.A source with knowledge of the matter said Total has reached a financing agreement with…
W-Industries, a global integrated technology and engineering solutions provider, has been awarded a significant contract by Total E&P Mozambique Area-1, Limitada, a wholly owned subsidiary of Total S.A, for its Mozambique LNG project.Since 2010…
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