Featured Summary:
- ExxonMobil is committing more capital to African oil and LNG projects
- Nigeria and Mozambique could add new production before the early 2030s
- African energy projects are gaining value as buyers seek more supply outside Hormuz
- The next test is whether current investment turns into operating exports
ExxonMobil is expanding two African energy projects at the same time. In Nigeria, the company and its partners are committing about $1 billion to the Usan Infill Project, which could add roughly 40,000 barrels a day.
In Mozambique, about $1.1 billion in pre-investment contracts has been awarded for Rovuma LNG, designed to produce 18.6 million tonnes a year.
The company produced about 4.7 million oil-equivalent barrels a day in 2025, giving its investment decisions weight in the global supply outlook.
Nearly 20 million barrels a day of oil moved through the Strait of Hormuz in 2025. Roughly one-fifth of global LNG supply also used the route.
ExxonMobil is committing more capital to African projects that could add oil and LNG supply outside the Gulf.
ExxonMobil Is Adding New Supply From Nigeria and Mozambique
ExxonMobil’s next drilling campaign at Nigeria’s Usan field would be its first there since 2016. The project is expected to add about 40,000 barrels a day.
Nigeria has also approved a new deepwater fiscal and regulatory framework that the government says could unlock as much as $50 billion in offshore investment.
In Mozambique, Rovuma LNG is planned at 18.6 million tonnes a year, with start-up targeted around 2031 if ExxonMobil takes a final investment decision.
Eni’s Coral South project is already exporting LNG, Coral North is expected to start adding output from 2028, and TotalEnergies restarted work on its separate LNG project in 2026.
The IEA expects new LNG projects in North America, Africa and Australia to add close to 50 bcm of supply in 2026. Mozambique is among the markets included in that new supply.
Nigeria’s Usan project would add more deepwater crude if the drilling programme proceeds as planned.
Mozambique Shows Why Large African Energy Projects Stay Delayed
Rovuma LNG entered front-end engineering and design in 2024 after a long delay in northern Mozambique.
The 2021 attack near Palma increased security concerns and forced TotalEnergies to suspend work on its separate LNG project.
TotalEnergies resumed construction in 2026. Eni has taken a final investment decision on Coral North, while ExxonMobil is spending ahead of a final decision on Rovuma.
Mozambique has large gas resources, but several major LNG projects have spent years in development. Security concerns continue to affect project planning in the north.
IEA Data Shows How Exposed Global Energy Supply Remains
The IEA says global oil supply fell by about 10.1 million barrels a day in March 2026, to roughly 97 million bpd.
Member countries approved a 400 million-barrel emergency release. Nearly 20 million bpd of oil had moved through the Strait of Hormuz in 2025. Alternative Gulf pipelines could carry only a smaller share of that volume.
About 110 bcm of LNG also passed through Hormuz in 2025, close to one-fifth of global supply.
Gulf exports fell during the disruption, and the IEA says other markets have since replaced part of the lost volume.
New LNG projects in North America, Africa and Australia are adding output outside the Gulf. High prices have also reduced demand.
Hormuz remains a major route for global oil and LNG trade, and alternative routes still carry much less volume.
Africa’s Energy Projects Are Moving Toward the Early 2030s
Coral North is expected to begin production from 2028. TotalEnergies is targeting first LNG from its Mozambique project around 2029, and Rovuma is targeting 2031.
Nigeria is also preparing additional deepwater production through Usan.
The Strait of Hormuz will remain a major route for global energy trade. More African crude and LNG is scheduled to reach the market before the early 2030s.
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