STORY-TRÅD·politik

Petrobras signs oil cooperation agreement in Mozambique

Petrobras announced on Wednesday (Sep. 23) that it had signed a memorandum of understanding for strategic cooperation in the oil and gas sector in Mozambique, a country on the southeast coast of Africa. The agreement was signed with the National Hydrocarbons Company (ENH), the Mozambican government’s commercial arm for oil and gas exploration, production, processing, marketing, and distribution. Notícias relacionadas:Petrobras to explore for oil off equatorial margin of Côte d’Ivoire.Petrobras boasts highest profit margin among world’s top oil giants.Petrobras negotiates oil exploration in Ghana.Among the document’s objectives are joint efforts in studies, evaluation, development, and marketing, as well as the exchange of knowledge and technical expertise. The agreement is valid for two years and may be extended. Focus on natural gas Mozambique, a country with a population of about 30 million, shares with Brazil the legacy of having been a Portuguese colony, which explains why the two countries speak the same language. According to the National Petroleum Institute of Mozambique, a state agency, the country stands out as a major source of liquefied natural gas (LNG). Foreign companies are already operating in the country, including France’s TotalEnergies, US-based ExxonMobil, China National Offshore Oil Corporation (CNOOC), China National Petroleum Corporation (CNPC), Italy’s Eni, Portugal’s Galp, and South Africa’s Sasol. Petrobras in Africa This week’s move marks another step by Petrobras toward strengthening its presence on the African continent. The state-owned company operates in Ivory Coast, Namibia, São Tomé and Príncipe, and South Africa. In August 2026, it began negotiations for exploration blocks in Ghana, on the west coast of Africa. This expansion into Africa marks a return to the region. In the early 2000s, the company operated in countries such as Nigeria, Tanzania, Angola, Benin, Gabon, and Namibia, but those stakes were later sold. In addition to Brazil and Africa, Petrobras operates in Argentina, Bolivia, Colombia, and the United States.