Cameroon Oil Pipeline - A Big Jump in Transit Revenues on the Chad

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Cameroon Oil Pipeline - A Big Jump in Transit Revenues on the Chad

Fri, 05/29/2020 - 10:08
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 Ambas Bay with oil platform, Limbe, Cameroon  (copyright by Adobe Stock/Reinhard Marscha)
Ambas Bay with oil platform, Limbe, Cameroon (copyright by Adobe Stock/Reinhard Marscha)

Transit revenues on the Chad - Cameroon pipeline totaled approximately 55 million euros in 2019, according to recently published figures published by the National Hydrocarbon Company (SNH).  This represents a nearly 25 percent increase over the previous year.

This growth, the SNH reveals, is due to the implementation of amendment No. 2 of the agreement establishing the Cameroon Oil Transportation Company (Cotco), operator of the Chad-Cameroon pipeline. According to this amendment, transit fees were increased on September 30, 2018, from US$1.30 to US$1.32 per barrel.

According to Business Cameroon, during the period under review, six transporters worked on this pipeline: China National Petroleum Corporation International Chad, Cliveden, Royalty In Kind, Société des Hydrocarbures du Tchad, ExxonMobil, Petronas, Petro Chad Mangara, Glencore, Petroleum Chad Company Limited. These companies carried out 50 removal operations totaling 47.26 million barrels at the Komé-Kribi terminal (KK1).

The 1070-km pipeline transports crude oil from three fields in southwestern Chad to a floating facility 11 km off the Cameroon coast. "First oil" was achieved in July 2003, several months ahead of schedule and cash began to flow in late 2003.

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