Exxon Mobil Corp postponed its final investment decision (FID) on a blockbuster $30 billion gas project in Mozambique. The chairman of its National Petroleum Institute said the FID should “in principle” come in 2021. The final investment decision for the project had been expected this year. An oil price slump and the coronavirus outbreak forced firms to delay projects and slash spending.
In projects in the region, Eni (Italy) and Total (France) are also involved. For Mozambique, the project has the potential to transform its economy. The project, apart from the coronavirus, is complicated by part from militant Islamists in the province.
