{"id":33480,"date":"2023-02-05T05:58:10","date_gmt":"2023-02-05T05:58:10","guid":{"rendered":"https:\/\/www.africa-press.net\/mozambique\/all-news\/totalenergies-return-to-cabo-delgado-may-have-financial-implications"},"modified":"2023-02-05T05:58:10","modified_gmt":"2023-02-05T05:58:10","slug":"totalenergies-return-to-cabo-delgado-may-have-financial-implications","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/mozambique\/all-news\/totalenergies-return-to-cabo-delgado-may-have-financial-implications","title":{"rendered":"TotalEnergies\u2019 return to Cabo Delgado may have financial implications"},"content":{"rendered":"

Africa-Press – Mozambique. <\/strong><\/span>Various media sources have recently reported that multinational TotalEnergies is imposing conditions on its return to operations in Cabo Delgado, which it abandoned in April, 2021, due to insurgent attacks.<\/p>\n

Political analysts point out that TotalEnergies\u2019 conditions for the resumption of its gas project in Cabo Delgado, namely the creation of an exclusive protection force, were to be expected. But they warn that the incorporation of the force\u2019s budget into the company\u2019s recoverable costs will reduce revenues and benefits to communities.<\/p>\n

The Centre for Public Integrity (CIP) had already warned of the possibility of oil companies trying to renegotiate their projects in Cabo Delgado because of insecurity there, and researcher Gift Essinalo says that this is a very sensitive issue, because Mozambicans expect Total to return to Palma, \u201cin line with government projections regarding the revenues which could result from its gas project\u201d.<\/p>\n

Essinalo says he does not understand why the budget for the force should be incorporated into the company\u2019s recoverable costs, because it will be made up of military units already operating in Cabo Delgado.<\/p>\n

Meanwhile, researcher Joa\u0303o Feijo\u0301 says he has doubts that TotalEnergies will restart in March now, because the conditions required by the company regarding security there are not yet present.<\/p>\n

Feijo\u0301 calls reports that Total intends to incorporate the budget of the exclusive force into its recoverable costs, \u201crealistic\u201d. \u201cTotal is trying to take advantage in the negotiation process with the government, since extractive industry companies are accustomed to operating in contexts of great insecurity\u201d.<\/p>\n

For his part, economist Joa\u0303o Mosca says that Total intends to create an exclusive protection force because it has no confidence in the Mozambican army and in the international forces operating in Cabo Delgado.<\/p>\n

Mosca said that the incorporation of this force\u2019s budget into Total\u2019s recoverable costs would limit the resources of the envisaged Sovereign Wealth Fund, though he doubts whether such a fund will ever be constituted.<\/p>\n

\u201cWe\u2019ve been talking about this for more than seven years, without result, so far,\u201d Mosca concluded.<\/p>\n

According to some media reports, the CEO of TotalEnergies is scheduled to visit Mozambique soon.<\/p>\n

For More News And Analysis About Mozambique<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Mozambique. Various media sources have recently reported that multinational TotalEnergies is imposing conditions on its return to operations in Cabo Delgado, which it abandoned in April, 2021, due to insurgent attacks. Political analysts point out that TotalEnergies\u2019 conditions for the resumption of its gas project in Cabo Delgado, namely the creation of an […]<\/p>\n","protected":false},"author":84,"featured_media":33479,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[233,281,283],"class_list":["post-33480","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-mozambique","tag-mozambique"],"yoast_head":"\nTotalEnergies\u2019 return to Cabo Delgado may have financial implications - Mozambique<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/mozambique\/all-news\/totalenergies-return-to-cabo-delgado-may-have-financial-implications\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"TotalEnergies\u2019 return to Cabo Delgado may have financial implications\" \/>\n<meta property=\"og:description\" content=\"Africa-Press – Mozambique. Various media sources have recently reported that multinational TotalEnergies is imposing conditions on its return to operations in Cabo Delgado, which it abandoned in April, 2021, due to insurgent attacks. 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