logoBC
Yaoundé - 15 August 2022 -
Energy

Addax Petroleum: Qu Bin becomes new CEO, replacing French native Roger Beaumont

Addax Petroleum: Qu Bin becomes new CEO, replacing French native Roger Beaumont
  • Comments   -   Tuesday, 12 October 2021 12:42

(Business in Cameroon) - Qu Bin, a Chinese citizen who was formerly technical manager for Addax Petroleum, was recently appointed chief executive officer of this Cameroonian subsidiary of Chinese oil group Sinopec. The appointment was disclosed in a legal announcement published by the company. 

The new CEO replaces Français Roger Beaumont who has been overseeing the operation of Addax Petroleum since 2011. One of the urgent cases he will have to address is the negotiations for a production-sharing contract with the National Hydrocarbons Corporation SNH on the Ngosso block, on the Bakassi peninsula, Southwest Cameroon. 

Concerning the promotion of mining areas, negotiations have been initiated with Addax Petroleum Cameroon Limited for a production-sharing agreement on the Ngosso block located in the Rio Del Rey basin,” the SNH revealed in late 2020. 

So, under Qu Bin’s management, Addax Petroleum could become the first oil company to explore and exploit oil and gas in Bakassi, a peninsula reputed for its oil, gas, and seafood wealth. 

BRM  

euro-dollar-fluctuation-raised-cameroon-s-debt-by-cfa420bn-in-one-year
Recent fluctuations between the euro and the U.S. dollar have increased Cameroon's debt by CFA420 billion (+11.2%) between June 2021 and June 2022. Data...
e-guinean-bange-bank-to-get-listed-on-the-bvmac-first-bank-to-join
Guinean Bange Bank is preparing its listing on the regional stock exchange Bvmac. Louis Banga, MD of the stock market, met on August 9 in this regard with...
cameroon-beac-forecasts-brewing-profit-to-fall-in-q3-2022
The Bank of Central African States Beac forecasts the brewing industry in Cameroon to experience a sharp decline in Q3 2022. In its bulletin, the...
cameroon-fuel-subsidies-could-finally-exceed-cfa780-billion-in-2022
The Cameroonian government announced it will approve CFA780 billion in fuel subsidy to keep pump prices unchanged in this harsh period marked by rising...

Mags frontpage


Business in Cameroon n110: April 2022

Covid-19, war in Europe: Some Cameroonian firms will suffer


Albert Zeufack: “Today, the most important market is in Asia”


Investir au Cameroun n120: Avril 2022

Covid-19, guerre en Europe : des entreprises camerounaises vont souffrir


Albert Zeufack: « Le marché le plus important aujourd’hui, c’est l’Asie »