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Yaoundé - 26 February 2024 -
Energy

Pipeline: Cameroon generated CFAF12.2 bln in royalties in Jan-Apr 2023

Pipeline: Cameroon generated CFAF12.2 bln in royalties in Jan-Apr 2023
  • Comments   -   Friday, 26 May 2023 13:31

(Business in Cameroon) - The Cameroon-Chad pipeline generated CFAF12.12 billion for Cameroon between January and April 2023, according to a recent release from the CPSP, the pipeline’s management commission. This amount, which is 0.33% higher than the figure recorded during the same period in 2022, represents the royalty paid for transporting Chadian oil through the pipeline connecting to Kribi, Cameroon.  

According to the CPSP, during the period, the royalties were paid for the transport of 15.33 million barrels from Chadian oil fields to the Komé terminal in Kribi. The volume of oil transported is up by 13,000 compared with the 15.1 million barrels transported in the first quarter of 2022. 

Cameroon receives $1.32106 per barrel of Chadian oil that transits through the pipeline. Initially, the amount was set at $.041 but, at Cameroon’s request, it was adjusted for the first time in 2013 and a second time in 2018. The amendment to the October 29, 2013, agreement between Cameroon and Cotco -the company operating the pipeline- provides that the royalty would be updated every five years based on average annual inflation in Cameroon during the five years prior.  Based on that provision, the royalty will be readjusted on October 1, 2023, surely boosting the revenues generated for Cameroon. 

CJ

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