28/10/2025 – Mozambique LNG: after more than 4 years TotalEnergies declares the end of the state of “force majeure”, new target for starting operations moved to 2029 – Read the other news
GAS & POWER: Over the weekend, TotalEnergies formalized the cancellation of the force majeure declared in April of 2021 for the Mozambique LNG project, activated due to a series of terrorist-motivated attacks in the region. The construction of the terminal, with an expected capacity of 13 mtpa, suffered a significant delay, with the first production expected in 2029 (compared to the previous target of 2024). TotalEnergies also reported a significant increase in construction costs, exceeding 4 billion dollars, for a total budget exceeding 25 billion dollars.
OIL: Crude oil prices fell again this morning after rumors according to which the OPEC group is preparing to vote on a new increase in production quotas at the next meeting scheduled for Sunday 2 November. The cartel plans to relax post-pandemic cuts by another 137,000 barrels a day in December, despite Russia's difficulties finding buyers after recent Western sanctions.
OIL: Crude oil prices fell again this morning after rumors according to which the OPEC group is preparing to vote on a new increase in production quotas at the next meeting scheduled for Sunday 2 November. The cartel plans to relax post-pandemic cuts by another 137,000 barrels a day in December, despite Russia's difficulties finding buyers after recent Western sanctions.
