- Exxon Mobil (XOM -0.2%) and Qatar Petroleum are teaming up to evaluate gas fields in Mozambique owned by Anadarko Petroleum (APC +1.2%) and Eni (E -1.2%), Bloomberg reports.
- Investment from XOM and Qatar Petroleum, which have partnered in joint ventures for at least 15 years, would bring much needed funds for development and a tax windfall to Mozambique, which is trying to cope with a deepening debt crisis.
- XOM already has established a presence in Mozambique after winning three offshore exploration licenses in October for blocks to the south of the APC and Eni operations in the Rovuma Basin.