Yaoundé - 02 October 2023 -

Chad pipeline: Cameroon collected CFAF27.1bln in transit duties in H1-2023

Chad pipeline: Cameroon collected CFAF27.1bln in transit duties in H1-2023
  • Comments   -   Tuesday, 25 July 2023 16:57

(Business in Cameroon) - The Chad-Cameroon pipeline generated CFAF27.1 billion in transit duties for Cameroon in the first half of 2023, figures from the General Directorate of Customs reveal. In May 2023, the Pipeline Steering and Monitoring Committee (CPSP) indicated that the country had raised CFAF12.1 billion in transit revenues on the pipeline between January and April 2023. This means that in just two months, the country raised CFAF15 billion, more than the amount raised in the first four months of the year. 

Cameroon now collects a royalty of $1.321 on every barrel of Chadian oil transiting its territory. This royalty, which was initially $0.41, was readjusted at Cameroon's request in 2013 and again in 2018, after tough negotiations. An amendment to the Cotco establishment agreement (the company operating the pipeline), signed on October 29, 2013, provides for the revaluation of that royalty every five years based on average annual inflation rates recorded in Cameroon during the period concerned.

The next revaluation date is October 1, 2023. Given the current inflation in the country and in the CEMAC zone in general, Cameroon can expect more resources from this infrastructure, which is, currently, the only route for Chad to send its oil to international markets.


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