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Hydrocarbons

Cameroon purchased over CFA650m worth of oil products from Total Nigeria between January and September 2018

Cameroon purchased over CFA650m worth of oil products from Total Nigeria between January and September 2018
  • Comments   -   Friday, 02 November 2018 16:26

(Business in Cameroon) - Between January and September 2018, the French oil group Total carried out major transactions between its Nigerian and Cameroonian subsidiaries, Total Nigeria reveals in its unaudited financial statements at the end of September 2018.

Indeed, without giving more details on the volume and types of products sold to Total Cameroon during the period under review, the Nigerian subsidiary reports it has collected 409.8 million naira, over CFA650 million from sales to Cameroon.

“The company is located in Nigeria. During the period, it sold products to some of its subsidiaries in Congo and Cameroon. Geographic information analyzes the company's revenues and cost of sales, based on its country of residence,” says Total Nigeria in its financial statements.

Transactions between Total Nigeria and Total Cameroon since the beginning of 2018 have increased significantly compared to the same period in 2017 (389.4 million naira of sales). In cash, they increased by 20.4 million naira, or CFA32.6 million.

Brice R. Mbodiam

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