Italy’s ENI wants floating natural gas processing plant in Mozambique

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Italy’s ENI oil group has asked interested companies to submit proposals for the construction of a floating plant to process liquefied natural gas extracted in Mozambique, indicates the respective announcement published on Tuesday in the Mozambican press.

The Italian group is seeking expressions of interest in a “project to develop a Mozambican offshore field” and aims to select a company able to More

Total awards more contracts for oil project in Angola

Three European companies have obtained contracts for nearly half of the US$16 billion that France’s Total group aims to spend on development of the Kaombo oil project in Angola, indicate statements released on Wednesday.

Italy’s Saipem announced it had obtained a US$4 billion contract to convert two tanker ships into floating production, storage and offloading (FPSO) platforms.

A consortium comprising Technip, quoted on More

Brazil’s Vale announces in June financing source for projects in Mozambique

The Vale mining group plans to announce the financing source for projects in Mozambique this coming June, the executive president of the Brazilian group said on Wednesday.

In comments to the Brazilian newspaper Valor, Murilo Ferreira also mentioned the announcement made by the National Economic and Social Development Bank (BNDES) that it had approved financing of 6.2 billion reais for the group, More

Angolan increases beer production with two new breweries

Angola will produce 11.8 million hectolitres of beer this year (versus 10.3 million hectolitres in 2013) as two new breweries begin operations, reports the Jornal de Angola newspaper.

The two new units raise to eleven the number of beer breweries in Angola, a market led by France’s Castel group, which has nine production units and a market share of 80 percent.

The numbers More

Regulations planned for Angola’s private investment law

Regulations are planned for Angola’s private investment law, which may be slightly readjusted, the head of the National Private Investment Agency (ANIP) said in Luanda.

Maria Luísa Abrantes indicated after a ceremony to sign 19 new investment contracts that only small changes would be introduced to coordinate the law with the regulations now being prepared.

“The current law is only three years old; More

Bank of Mozambique keeps benchmark interest rates unchanged

The Monetary Policy Committee of the Bank of Mozambique has maintained key benchmark interest rates unchanged, indicates a statement released by the institution on Wednesday.

Interest rates have been kept at 8.5 percent for the marginal lending facility, 1.50 percent for the deposit facility and 8 percent for the required reserves ratio.

The committee also decided to intervene in the interbank market to More

Hong Kong company picked by Brazil’s Embraer for Legacy 500 jet service centre in mainland China

The Hong Kong company Metrojet has been chosen by the executive aviation division of Embraer (Empresa Brasileira de Aeronáutica) to run the first Authorised Service Centre for the Legacy 500 jet in mainland China, the Brazilian company announced in a press release.

The respective contract was signed during the 2014 Asian Business Conference and Exhibition (ABACE) in Shanghai and expands a previous More

Financial assistance programme for Portugal evaluated for last time in April

The last evaluation by the tripartite committee overseeing the financial assistance programme for Portugal begins on 22 April and should continue until the end of this month, reports the Portuguese press.

Portugal finishes next May the budget adjustment programme agreed on with the troika comprising the European Commission, the European Central Bank and the International Monetary Fund. The conditions whereby the country More