8, June 2016
The National Oil and Gas Company of Cameroon SNH has announced that oil production in Cameroon estimated at 12.3 million barrels on April 30th 2016 is experiencing a noticeable increase of 19.42% compared to the same period a year ago. Despite lower crude oil prices on the world market with a barrel selling below $ 30, oil production in Cameroon is expected to increase in the coming months with the commissioning of new oil fields. SNH revealed recently that gas production amounted to 4,286,600,000 cubic feet, down 5.77% compared to the same period last year.
In a dramatic change of government policy, the SNH released a statement observing that the sales of crude oil and natural gas on behalf of the State of Cameroon enabled the company to transfer to the government treasury 82, 44 billion FCFA cumulatively between January and April.