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[BUSINESS] · Mozambique, Brazil · 20 sources

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Mozambique seeks investment and signs Petrobras energy pact

Mozambican President Daniel Chapo is actively promoting economic reforms and investment opportunities in energy, agriculture, and digital infrastructure. During meetings in New York and Brazil, Chapo emphasized the country's goal to diversify its economy beyond natural resource extraction, focusing on industrialization and value creation.

In a significant move for the energy sector, Brazil's Petrobras and Mozambique's state-owned Empresa Nacional de Hidrocarbonetos (ENH) signed a memorandum of understanding. This two-year agreement establishes a framework for strategic cooperation in oil and gas, including technical knowledge exchange and joint studies for exploration, development, and commercialization.

On the fiscal front, Mozambique is negotiating a new financing program with the International Monetary Fund (IMF). The discussions follow Mozambique's early settlement of its previous debt to the IMF, which was fully paid in March.

Chapo also highlighted the strategic importance of Mozambique's liquefied natural gas (LNG) reserves, particularly in the Rovuma Basin, as a driver for national development and a means to attract international capital and technology.

Entities

Brazil · Daniel Chapo · Daniel Francisco Chapo · Empresa Nacional de Hidrocarbonetos · International Finance Corporation · International Monetary Fund · João Lourenço · Mozambique · Petrobras · United Nations

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