Market Chatter: Exxon Mobil Raises Stake in Mozambique LNG Project to 50%

07:56 AM EDT, 10/30/2026 (MT Newswires) -- Exxon Mobil (XOM) increased its stake in the planned Rovuma liquefied natural gas project in Mozambique to 50% from 37.5% following an asset swap with Eni (E), Bloomberg reported Friday, citing Chief Financial Officer Neil Hansen during an interview. Exxon will remain the project's operator, while Eni will receive interests in other nearby properties, Bloomberg reported. The report said the companies plan to make a final investment decision by year-end. Hansen said discussions with the Mozambique government on development plans and approvals are progressing well, according to the report. Exxon Mobil, Eni did not immediately respond to MT Newswires' request for comment. (Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)