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Cameroon: Oil and gas sales revenue rose by 20.31% to CFA283.71bn, in late September 2018

Cameroon: Oil and gas sales revenue rose by 20.31% to CFA283.71bn, in late September 2018
  • Comments   -   Wednesday, 05 December 2018 10:59

(Business in Cameroon) - Cameroonian national oil company (SNH) announced December 4 that oil and gas sales between January and September this year amounted to CFA283.71 billion, production cost excluded, reflecting a 20.31% growth compared to the same period last year.

SNH reports it has paid the government CFA6 billion in dividend and CFA7.4 billion in taxes to the Treasury. These sums come from the sale of crude oil between the period reviewed, 9.176 million barrels (-21.21%). Meanwhile liquefied natural gas (LNG) shipments, which started May 17, allowed 7 offtakes, as at September 30. Of this volume, SNH sold 258,775 million m3, 5,958.46 billion BTU (British thermal unit).

In addition, the company delivered 8,785.29 million cubic feet (248.80 million m3) to Kribi Power Development Company, the manager of the Kribi thermal plant. This figure, higher than the minimum daily volume of 28 million cubic feet, reflects that the plant operates 69.97% of its installed capacity (216 MW).

Sylvain Andzongo

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