Cameroon gains 283b fCFA from oil and gas sales

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APAnews | Oil and gas sales raised 283.71 billion CFA francs for the Cameroonian state coffers during the three quarters of 2018, the National Hydrocarbon Company (SNH) announced in its sectoral report seen Friday.

According to the state-owned company in charge of oil transactions, revenues increased by 20.31 per cent compared to the same period last year.

The SNH added that the increase is explained by a rise in oil prices per barrel over the last year in the world market.

During the same period, the SNH claimed to have paid a dividend of 6 and 7.4 billion CFA francs to the state.

Regarding the quantities put up for sale, SNH announced that 9.716 million barrels of oil were sold, representing a decrease of 21.21 per cent.

Liquefied natural gas (LNG) and the quantities marketed amounted to 258,755 million m3, or 5 958.46 billion British thermal units (BTUs).

Source: cameroononline.org