FCFA 175 billion collected in oil revenue for 4 months

Between January and April 2014, Société nationale des hydrocarbures (SNH) alleges having transferred the sum of FCFA 175.6 billion in oil revenue to the State Treasury.

This sum is equivalent to the portion of crude oil sales belonging to the State (which is a part of the shared production contract signed with many operators) on 8.82 million barrels of oil over the same period by industry operators in Cameroon.

Anticipated public oil revenue is projected to reach 718 billion FCfa which suggests stagnation compared to the same budgetary period in 2013, despite a forecast hike in production of 24%.