As expected, the Chinese emerged early on as potential stakeholders through Sinopec, CNOOC, CNPC and Petro China International. CNPC is a shareholder in Mozambique Rovuma Venture (MRV) together with ExxonMobil and ENI, owning more than 28% of the 70% that MRV holds in the Area 4 consortium.

CNOOC already has significant investments in the African continent (Nigeria and Uganda) and stakes in consortia that are still inactive – as is the case with offshore Guinea Bissau – but it has only now entered the Mozambican oil and gas sector. The African continent already represents the second external supplier of hydrocarbons to China, after the Middle East, with 25% of total Chinese imports. READ MORE