Oil India Expects $20bn Mozambique LNG Project Restart This Year

19 Sep 2025 CW Team

India’s state-run Oil India Ltd expects the $20-billion Mozambique liquefied natural gas (LNG) project, operated by TotalEnergies and in which it holds a stake, to resume development by the end of 2025, Chairman Ranjit Rath said on Thursday.

Construction was halted in 2021 and force majeure was imposed following a deadly attack on the site by Islamic State-linked insurgents.

“With improved security conditions, the project is expected to restart in the second half of 2025 and is well-positioned to meet the growing demand of the Indian gas market,” Rath stated at the company’s annual shareholder meeting.

TotalEnergies CEO Patrick Pouyanne indicated in June that development could resume “this summer”.

TotalEnergies, the project operator, holds a 26.5 per cent stake, followed by Mitsui & Co with 20 per cent, and Mozambique’s state-owned ENH with 15 per cent. Indian state firms ONGC Videsh, Bharat PetroResources, and Oil India collectively own 30 per cent, while Thailand’s PTTEP holds the remainder.

Oil India also retains minority stakes in the Vankorneft and Taas-Yuryakh projects in Russia.

Rath highlighted the strong returns from these Russian assets, noting that Oil India received dividends equivalent to 91 per cent of its initial investment.

“A highlight of the year was the robust dividend flow from Russian assets, amounting to $942 million, representing over 91 per cent of our original investment in Vankorneft and Taas-Yuryakh, with full recovery expected in the coming year,” he said.

Resources

03 Jun 2026

TKIL Industries Appoints Gaurav Srivastava as CFO

TKIL Industries has appointed Gaurav Kumar Srivastava as Chief Financial Officer (CFO), effective 1 June 2026. He succeeds Ketan Pendse, Chief Financial Officer and Whole-time Director, who is stepping down after more than two decades with the company. Srivastava previously served as Executive Vice President, Finance & Taxation.Announcing the appointment, Vivek Bhatia, Managing Director & CEO, TKIL Industries, thanked Pendse for his long-standing contribution to the organisation and wished him success in his future endeavours.Bhatia said, “Gaurav’s appointment reflects our continued focus ..

Siemens Launches Intelligence Center X for AI

Siemens has launched Intelligence Center X, an industrial AI orchestration software designed to help organisations move from isolated AI pilots to scalable business impact. The software enables people and AI agents to work together through shared context, workflows and lifecycle intelligence.Part of Siemens Xcelerator, Intelligence Center X connects industrial data, models and workflows on a governed foundation, allowing companies to deploy AI-driven applications and agents with traceability and control. It combines the Mendix low-code platform with Siemens’ Graph Studio and AI Studio softwa..

DIPA Adds Gruner Renewable Energy as Member

The Digital Infrastructure Providers Association (DIPA) has onboarded Gruner Renewable Energy as a new member to support the integration of green energy solutions into India’s telecom and digital infrastructure ecosystem.DIPA, India’s apex industry body for digital infrastructure providers and a key stakeholder under the National Broadband Mission 2.0 of the Department of Telecommunications, said the partnership aligns with its vision of building a zero-carbon and future-ready ecosystem.India’s telecom sector is among the country’s most energy-intensive industries, with towers, fibre n..