Africa Monitor Intelligence

Mozambique: ENH Plans Big With Debt to Galp Outstanding

 
In parallel, Galp is in a tax dispute with the government due to the sale of its 10% stake in the Area 4 (Rovuma LNG) consortium to ADNOC - Abu Dhabi National Oil Company (AM 1426). Mozambique considers that Galp's gains from the sale of its stake should be taxed as profits, while the multinational believes that most of that amount corresponds to the repayment of shareholder loans and the recovery of investments made (AM 1557).

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