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Cameroon earned 1549 billion Fcfa from hydrocarbon exports

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11 month ago

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Over the period January to September 2022, Cameroon exported 5,877,000 tonnes of products worth 2,487 billion CFA francs. Of these exports, hydrocarbons alone - crude oil, fuels, lubricants and liquefied natural gas - accounted for 1,517,000 tonnes for 1,549 billion CFA francs. That's 83%, compared with 17% (938 billion F Cfa) for non-hydrocarbon exports, according to the Institut National de la Statistique (Ins) report on Cameroon's foreign trade between January and September 2022.

According to datacameroon.com, hydrocarbon exports are doing well in Cameroon, as this Ins report shows. It reveals a 79% jump compared to 2021.  So how is it that Cameroon is exporting hydrocarbons intensively, while the local market has experienced numerous unexplained shortages during 2022?

" Cameroon produces 100,000 barrels of oil a day, and its oil consumption demand is around 45,000 barrels a day. Given these figures, Cameroon is likely to produce enough oil to satisfy its internal needs. Except that not all the oil produced by the companies comes back to Cameroon, because we're under a production-sharing contract, so Cameroon receives its share, which is immediately sold internationally, explique l’expert en pétrole et mines, Dr Bareja Youmssi.

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