Yaoundé - 21 June 2021 -

Cameroon generated XAF121.6 bln of oil revenues in Jan-Apr 2021 (BEAC)

Cameroon generated XAF121.6 bln of oil revenues in Jan-Apr 2021 (BEAC)
  • Comments   -   Thursday, 10 June 2021 12:52

(Business in Cameroon) - Cameroon generated XAF121.68 billion of net profit from the sales of crude oil between January and April 2021, according to the national oil and gas company SNH. The company revealed this at the end of its first administrative board meeting for the 2021 financial year, held between June 1 and 4, 2021, through house calls (because of the coronavirus pandemic).

This net profit was favored by the rise in oil prices recorded this year, unlike the 2020 prices that officially dropped by 39.41% due to the coronavirus pandemic. Because of the current prices ($70 currently) of oil barrels, the country increased its 2021 oil revenue projections from XAF418 billion to XAF561 billion (+143 billion).

Cameroon’s net oil revenues also rose during the period under review due to an increase in oil production. Indeed, according to the SNH, the country produced 13.25 million barrels between January and April 2021, against 9.035 million during the same period in 2020. In compliance with the production-sharing contract binding Cameroon with oil production companies operating in the country, part of that production was handed to the State, we learn.

Brice R. Mbodiam 

The National Agency for Information &Communication Technologies (ANTIC) informs that in 2020, it deleted 3,372 of the 4,242 fake Facebook accounts...
On June 17, 2021, Chadian Minister of Public Security, General Souleyman Abakar Adam, and Ousman Bassy Lougma, director-general of the country’s national...
In 2020, passenger traffic dropped by 61.8% year on year in Cameroon, according to figures from the Cameroon Civil Aviation Authority (CCAA). In the...
As of December 31, 2020, the National Social Insurance Fund CNPS had XAF325 billion of cash in its treasury. This was revealed by Alain Olivier Noël...

Mags frontpage

Business in Cameroon n100: May 2021

These Cameroonian startups raise billions

Agro-industry and land rights

Investir au Cameroun n110: Mai 2021

Ces start-ups camerounaises qui lèvent des milliards

Agro-industrie et droits fonciers