The sale of Galp’s 10 per cent share in Area 4 of the Rovuma Basin to the company XRG P.J.S.C. (an operational vehicle of the state oil company of the United Arab Emirates, ADNOC), concluded in March 2025, has unleashed a fiscal dispute which tests the economic sovereignty of Mozambique and the responsibility of one of the largest foreign investors in the country. The Tax Authority (AT) notified the oil company for the payment of capital gains tax to the value of 162 million euros, equivalent to 12 billion meticais. Galp itself confirmed that that it had been notified of this sum in its official report to shareholders. This sum results from the application of an effective rate of 17.6%, envisaged in the Mozambican petroleum fiscal regime, to capital gains estimated by the AT at about 920 million euros.
