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Cameroon: Libya Oil and Corlay join SCDP board

Cameroon: Libya Oil and Corlay join SCDP board
  • Comments   -   Thursday, 23 October 2014 02:26

(Business in Cameroon) - Oil product distributors, Libya Oil, which bought Exxon-Mobil’s network in Cameroon, as well as Nigerian Corlay, which now operates in the country under the MRS brand after buying Shell’s gas stations, have just officially joined the board of Société camerounaise des dépôts pétroliers (SCDP). This was announced by the oil product stockers in a release.

With 51% owned by the State of Cameroon, the rest of SCDP’s capital is shared among oil product distributors in Cameroon, some of which are on the company’s board for this reason. The arrival of Libya Oil and Corlay therefore follows the new structure in the oil product sector after the departure of Exxon-Mobil and Shell.

SCDP finished 2013 with a net profit of 3.376 trillion FCFA, which is 500 million FCFA more than in 2012 when the company announced a 2.885 trillion FCFA profit.

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