Project cost and completion date not revealed; result of environmental impact study still awaited.
Lusofonia
Russia remains China’s top oil supplier, shipping 7.15 million tons in July, and 48.5 million tons since January.
Trends generally up, however Chinese imports from Portuguese-speaking countries down slightly to US$13 billion.
Strengthening of military equipment and technical cooperation in Mozambique part of plan to ‘strengthen solidarity and coordination’ between the two countries.
First exports come just as world prices are at historic high following Russia’s invasion of Ukraine.
Portuguese-owned factory will be able to extract more than 10,000 tonnes of oil annually, making up for shortage caused by war in Ukraine.
Vast wealth of Greater Sunrise undersea fields, estimated at US$71 billion, vital to financial future of impoverished island nation.
Short-term tourism and business visa’s validity extended to 90 days; five-year temporary residence visa granted for investments over US$50 million.
China National Offshore Oil Corporation and China National Oil & Gas Exploration & Development eye 11 areas up for bidding.