Saipem SpA (OTCMKTS:SAPMF – Get Rating) – Analysts at Jefferies Financial Group upped their Q4 2023 earnings per share (EPS) estimates for Saipem in a research report issued on Thursday, March 23rd. Jefferies Financial Group analyst M. Wilson now forecasts that the company will earn $0.01 per share for the quarter, up from their previous […]
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Italian engineering contractor Saipem SpA said this week it has agreed to restart work in July on TotalEnergies SE’s Mozambique LNG project. The 12.9 million metric tons/year project was suspended in 2021 amid rising violence in the area.
The LNG project, once touted as Africa’s biggest private investment, stalled in 2021 following terror attacks by Islamic State-linked rebels in Mozambique’s northeast. Progress in containing the violence has led to speculation that work may resume in the coming months, but TotalEnergies has yet to make a decision.