Cameroon oil revenues dropped by 17.3%

FCFA 82.4 billion. This is the amount transferred to the Cameroonian Treasury between January and April 2016 by the Société Nationale des Hydrocarbures (SNH), as oil revenues.

According to this company who operates as the secular arm of the Cameroonian State in the oil operation, these revenues have decreased by 17.3% compared to the same period in the previous year, due to “the drop in the price of crude oil”.

Indeed, SNH highlights, compared to the January-April 2015 period, “the average price of Dated Brent which is used as reference for the fixation of the price of the Cameroonian crude decreased by 35.22%”during the first four months of the current year.

We can recall that the sluggish situation of the crude barrel had already led to a net loss of Fcfa 66 billion in oil revenues at end 2015 (FCFA 378 billion), compared to 2014 (FCFA 444.7 billion).

For 2016, Cameroon is planning to get a total of FCFA 397.2 billion in oil revenues. A forecast which is not a given, considering the results obtained during the first four months of the year, and the level of fluctuation of the price of crude oil on the international market.