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Cameroon leading producer of Crude Oil

Article credits to EITI International Secretariat, Norway

Cameroon is a leading producer of crude oil and has rich deposits of natural gas, cobalt, bauxite, iron ore, gold and diamonds. Revenues from the extractive industries accounted for 3.6% of GDP in 2017. EITI reporting discloses payments made by companies active in the oil, gas and mining sector, including the National Hydrocarbons Company (Société Nationale des Hydrocarbures, SNH), as well as in the transportation of crude oil. The SNH is leading Cameroon’s efforts in online systematic disclosure of company payments and government revenues. Public debate focuses on subnational transfers to resource-rich communities, artisanal and small-scale mining and the environmental impact of the extractive industries. Latest reforms in the sector include the review of the Mining Code in 2016, which makes it mandatory for companies to comply with transparency requirements as per the EITI. The EITI in Cameroon published in February 2020 the EITI report for the 2017 fiscal year.

Cameroon is a leading producer of crude oil and is developing its production of natural gas. Total daily liquid hydrocarbon production averaged 76 000 barrels in 2017. Cameroon hosts a pipeline that transports oil production from Chad to its port in Kribi. The country also plans on expanding its natural gas production, including following the construction of a liquified gas floating unit in Kribi.

Artisanal and small-scale mining of gold and diamonds is increasing in the northern and eastern regions of the country, while Cameroon also produces a variety of construction materials.

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