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Mozambique to Get $350 Million in Tax from Eni-Exxon Deal

Source: Reuters 3/21/2017, Location: Africa

Mozambique will get $350 million in capital gains tax from Eni after the Italian oil and gas company agreed to sell a stake in a gas field to Exxon Mobil Corp, senior tax official Anibal Mbalango said. Exxon, the world’s biggest publicly traded oil producer, agreed earlier this month to pay Eni $2.8 billion for a 25 percent stake in a Mozambican gas field.

Eni is currently the operator of Mozambique’s Area 4 license which, with 85 trillion cubic feet of gas, is one of the world’s largest gas discoveries in recent years.

The deal offers Mozambique the chance to transform itself from one of the world’s poorest countries into a global LNG exporter.

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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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