Galp Energia's (GLPEY) Mozambique Stake Acquired by ADNOC

Galp Energia SGPS S.A. (GLPEY) announced that its 10% stake in the Area 4 concession in Mozambique has been acquired by ADNOC (Abu Dhabi National Oil Company). In recent news, ADNOC has also acquired an 11.7% stake in Phase 1 of NextDecade's Rio Grande LNG project in Texas. The UAE oil giant's latest acquisition aligns with its strategy to expand its low-carbon energy portfolio. The acquired assets include the Coral South Floating LNG (FLNG) facility, which is currently operational, along with the Coral Nor ...