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Exxon Said in Advanced Talks Over Eni Mozambique Gas Stake

  • CEO met Mozambican President Nyusi last week to discuss deal
  • Exxon also in parallel talks with Anadarko over stakes
Updated on

Exxon Mobil Corp. is in advanced negotiations with Eni SpA over acquiring a minority stake in natural-gas discoveries off Mozambique, according to two people with knowledge of the talks.

Exxon Chief Executive Officer Rex Tillerson discussed the plan with Mozambique President Filipe Nyusi last week in Maputo, the African nation’s capital, according to one of the people, asking not to be identified because the matter isn’t public. The U.S. oil major’s participation would potentially accelerate development of one of the world’s largest liquefied natural gas projects.