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Chad-Cameroon Pipeline: FCFA 36.59 billion generated in 2019.
Chad-Cameroon Pipeline: FCFA 36.59 billion generated in 2019.
The National Hydrocarbons Corporation has published its 2019 report, indicating that some FCFA 36.59 billion was generated form the transit of petroleum products in the pipeline. According to the report, the figures represent a 24. 32 per cent increase from the revenues generated the previous year.
The firm explained that the implementation of amendment Number Two of the agreement that established the Cameroon Oil Transportation Company, COTCO, facilitated the growth in revenue. The change required that transit fees be increasing from FCFA 780 to 792 per barrel. The amendment went into effect from September 30, 2018.
COTCO, it should be recalled, has been the major operator of the Chad Cameroon Pipeline. In 2019 alone, some 47.26 million barrels of oil were transported through the pipeline. In addition to COTCO, five other regional and international firms have been involved in fuel transit along the line.
Culled from Cameroon Insider.