Key figures from 1st January to 30th April 2021:
- Oil production: 8.419 million barrels (-6.82% compared to the same period last year)
- Volume of crude oil sold on behalf of the state: 5.508 million barrels (+0.49%)
- Gas production: 27 267.86 million cubic feet or 772.14 million m3 (+3.51%)
- Quantity of natural gas sold to the Kribi Thermal Power Plant: 3 952.14 million cubic feet of gas, or 111.91 million m3 (+9.73%)
- Quantity of domestic gas (LPG) delivered to Tradex to supply the local market: 10 233.267 metric tons (MT)
- Quantity of liquefied natural gas (LNG) sold internationally: 18 739 310 million British Thermal Units (BTU), or 809 352 m3 (-16.75%)
- Revenue generated for the State:
- 68 billion CFAF (-0.21%) in "SNH royalties" included in the State budget
- 44 billion CFAF in corporate income tax (CIT)
- 10 billion CFAF in dividends
- 16 billion CFAF in various taxes.
On another level, the Chad/Cameroon Pipeline generated revenue of 11.59 billion CFAF for the State as transit fee (-13.8%).
About the transfers made by SNH to the State
In accordance with its mission, the National Hydrocarbons Corporation (SNH) transfers to the State revenues from the sale of hydrocarbons, after deduction of expenses.
When referring to transfers to the State, two terms are used: transferable balance and transferred balance.
The transferable balance is taken from the Table of Oil Operations, a forecast table of income and expenditure, which is updated at the beginning of each quarter.
An adjustment is made at the end of each quarter to take into account final payments.
Adjustments done in the 4th quarter of a given fiscal year are taken into account in the 1st quarter of the following fiscal year.
Based on this mechanism, there is necessarily either a windfall (too much transferred) or a shortfall (less transferred) charged to the following year.
The balance transferred corresponds to the amount that is effectively transferred during a given fiscal year. These transfers are recorded as revenue in the State Financial Operations Table (TOFE) under the heading "SNH Royalties".
Recap on production, sales and payments per fiscal year
Details accounts of SNH
Mandate of the state
Summary of financial statements