Key figures from 1st January to 30 June 2023:
- Oil production: 11.939 million barrels
- Volume of crude oil sold on behalf of the State: 7.071 million barrels
- Gas production: 48 527.33 million cubic feet
- Quantity of natural gas sold to the Kribi Thermal Power Plant for electricity generation: 5.461 million standard cubic feet (scf) at 1000 British Thermal Unit per standard cubic foot (BTU/scf)
- Quantity of domestic gas (LPG) delivered to supply the local market: 18 261.273 metric tons (MT)
- Quantity of liquefied natural gas (LNG) exported for the State: 424 875 m3
Revenue generated for the State:
- 351.264 billion CFAF in income transferred to the State;
- 15.246 billion CFAF in corporate income tax (CIT);
- 21.834 billion CFAF in various taxes.
On another level, the Chad/Cameroon Pipeline generated revenue of 19.93 billion CFAF for the State as transit fee.
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