Petroleum Africa
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Sunday, September 29, 2019
According to reports out of Mozambique, the government is expecting to rake in around $880 million in capital gains tax as a result of the Occidental Petroleum acquisition of Anadarko Petroleum in August.
Anadarko holds significant assets in Mozambique’s Offshore Area 1. In June, Anadarko announced that it had formally sanctioned its Mozambican liquefied natural gas project, Mozambique LNG (MLNG). The project, estimated to cost over $23 billion, will be the largest sanctioned petroleum investment in sub-Saharan history.
Total will be buying the lucrative assets from Oxy. Reportedly, President Filipe Nyusi announced the capital gains tax after a recent meeting with Occidental and Total representatives.
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