africa commodities Gas Mozambique oil

Mozambique INP to audit Sasol accounts next month

Mozambique: INP to audit Sasol accounts next month Mozambique’s National Petroleum Institute (INP) will next month audit the accounts of the South African petrochemical company Sasol, with the aim of establishing the actual operating costs of the petrochemical company, which exploits hydrocarbons in Mozambique.

Oil companies Eni and Anadarko, which operate in the Cabo Delgado basin in the north of the country, were the first to be audited by the National Petroleum Institute. The audits were for financial years 2015, 2016 and 2017, and the results will be known by the end of this year.

“To date, the report referring to the fiscal year 2015 has been finalised and submitted to the concessionaires for purposes of contradiction in accordance with the law,” the General State Account for 2018, to which “O País” has had access, reads.

The INP notified Sasol on May 9 that the audit would be carried out on 16 July at the company’s operations in the Pande and Temane blocks in Inhambane, where the company is extracting natural which is then transported to neighbouring South Africa via a 865-kilometre pipeline.

The audit is being carried out after suspicions arose that costs had been overestimated by the companies.

Source: Folha de Maputo via Club of Mozambique

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