0345 GMT October 22, 2019
The nation, already cashing in on a liquefied natural gas boom even before it starts exporting the fuel in 2023, is home to a $23 billion project that Anadarko Petroleum Corp. finalized in June, Bloomberg wrote.
Occidental had the month before agreed to buy the company and offload the African projects that came with it to Total for $8.8 billion.
The windfall will be welcome to Mozambique, which will hold general elections on Oct. 15. The world’s seventh-poorest nation by GDP per capita, according to World Bank data, is struggling to recover from two powerful tropical cyclones that struck it in quick succession earlier this year. Rebuilding will cost about $3.2 billion.
The government is still trying to climb out of debt default after a $2 billion loan scandal erupted in 2016, prompting the International Monetary Fund and donor countries to freeze financing.