Consultants tip CNPC to put US$1.1 bln into Mozambican oil, gas

GlobalData Energy forecasts that China National Petroleum Corp. (CNPC) will invest US$1.1 billion in oil and gas projects in Mozambique between now and 2020.

A report by the energy industry consulting firm says it expects CNPC to be the third-biggest investor in Mozambican oil and gas in that period, after Eni SpA and Exxon Mobil Corp., each of which is forecast to invest US$1.4 billion.

Mozambican oil and gas will attract over US$9.1 billion of investment in all – US$6.2 billion of it investment in extracting oil and gas from very deep under the sea, GlobalData Energy forecasts.