MARKETING OF CAMEROONIAN CRUDE OIL: SNH–PERENCO–ADDAX JOINT COMMISSION MEETS IN PARIS

The Joint Commission responsible for setting international market prices (official selling prices) for Cameroonian Kolé and Lokélé crude oils convened on 21 October 2026 in Paris for the third quarter of 2026.

The meeting was chaired by Nathalie Moudiki, Senior Adviser No. 2 at SNH and Head of the Legal Division, representing the Executive General Manager. It was attended by Julien Gras, General Manager of PERENCO Cameroon and Liu Huimin, representing the Chief Executive Officer of ADDAX Petroleum.

To reach an agreement on market pricing, the parties drew on reliable data from average Dated Brent quotations consolidated by industry experts. Partners SNH, PERENCO and ADDAX reaffirmed their commitment to ongoing collaboration based on trust, transparency and adherence to contractual terms.

Participants then proceeded to confirm the stock movements covered by these prices for Q3 2026, as well as establish the provisional lifting schedule for the Q4 2026. The chairwoman, however, emphasised that “each operator must henceforth provide its annual lifting schedule in advance and expect quarterly field visits by SNH to operational sites.” Nathalie Moudiki went on to stress that “any postponement of liftings must also be communicated to all parties in accordance with the required procedures,” before reminding that “all expenditure must be disclosed and approved by SNH as the representative of the State of Cameroon in hydrocarbon matters.”

SNH also reiterated its commitment to maximising the value of Kole and Lokele crudes in order to safeguard the State’s economic and financial interests, despite a global oil landscape shaped by geopolitical instability and resultant price volatility on international markets.