3, July 2020
Victoria Oil & Gas terminates sales agreement with Biya regime after payment failures 0
Energy company Victoria Oil & Gas said it had terminated a gas sales agreement in Cameroon after state-backed buyer ENEO Cameroon was unable to make payments.
ENEO was majority owned by London-based investment company Actis, which had a 51% stake, with the Cameroon government owning 44% and its employees owning the remaining 5%.
Victoria Oil & Gas, through subsidiary Gaz du Cameroun, had been supplying natural gas to ENEO’s Logbaba power plant since 2015 ‘despite ENEO’s poor payment record’, it said.
ENEO’s debt stood at $16m, or $9m net to Gaz du Cameroun, at the end of June.
Gaz du Cameroun served a default notice on ENEO on 2 June that included a 30-day remedy period.
‘As we have reached the expiry of this remedy period, Gaz du Cameroun has no alternative but to terminate the gas supply agreement with immediate effect,’ Victoria Oil & Gas said.
‘The company will now rigorously pursue this unpaid debt via the legal channels available to it, including a penalty payment of three months’ fees as a result of termination as per the signed term sheet.’
Source: Sharesmagazine





















3, July 2020
French Cameroun, Ambazonia Interim Government Start Ceasefire Talks 0
Cameroon’s government and nine imprisoned leaders of separatists fighting for the country’s English-speaking regions have started ceasefire negotiations over their nearly three-year conflict, rebels and a UN source said on Friday.
“Nine of us met with a team from the Republic of Cameroon to initiate a ceasefire following the appeal of the United Nations,” the main separatist leader Julius Ayuk Tabe, who is in jail serving a life sentence, said in a message sent to AFP by his lawyer.
“The details are still being discussed and we will keep you informed when significant progress has been made” in the talks that started on Thursday evening, he added.
The meeting between the leaders and the government is the first since the conflict broke out in the Northwest and Southwest regions, which account for about a fifth of a population that is overwhelmingly French-speaking.
The Cameroonian government neither confirmed nor denied the meeting had been held, but a senior UN official confirmed to AFP that it took place.
More than 3,000 people have been killed in the conflict since separatists declared the independence of Ambazonia, the name given to the two anglophone regions, in October 2017 after decades of grievances at perceived discrimination by the francophone majority.
The nine leaders are self-declared members of the interim government of Ambazonia. All are in jail in the capital Yaoundé on “terrorism” charges.
After months of protests in late 2017, decades of resentment boiled over into an armed campaign for independence that was then met with a brutal crackdown.
There has been almost daily violence in the two regions since, and civilians have suffered from abuses committed by both sides, with more than 700,000 forced to flee their homes.
In early March, the UN called for a ceasefire in the two regions to help combat the coronavirus pandemic.
But the appeal had so far gone unheeded, with violence continuing and military operations even seeming to have intensified.
Source: Urdupoint.com