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Business in CameroonCameroon plans to build its 2nd oil refinery in Kribi

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AFSIC Investing in AfricaTop Petroleum Companies in Cameroon AFSIC

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Factory High Quality Soybean Oil Refinery Plant in Cameroon

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  • Will Cameroon develop a new oil refinery?
  • If the Cameroonian government decides to develop these fields, there would be significant U.S. export potential. Downstream: In September 2022, the government of Cameroon indicated it will launch a public tender to refurbish the national oil refinery SONARA.
  • How much natural gas does Cameroon have?
  • Cameroon has natural gas reserves estimated to be 4.8 billion cubic feet. Much of this gas remains undeveloped. In the meantime, Cameroon continues to concentrate on upstream and downstream activities. Downstream, the country plans to refurbish the national oil refinery, SONARA, following a devastating fire of an unknown cause in June 2019.
  • Does Cameroon have oil reserves?
  • According to Cameroon’s EITI Committee, the extractive sector contributed 3.9% to Cameroon’s GDP in 2021 against 2.20 in 2020, 16.3% to the State revenue against 16.3% in 2020, and 31.2% to exports against 31.2% in 2020 (see table below). Upstream: Confirmed findings of oil reserves on the Chad Basin and the Bakassi peninsula remain unexploited.
  • What is Cameroon's biggest export & import?
  • In 2019, crude petroleum was both Cameroon’s biggest export ($1.89 billion) and import ($347 million). Cameroon and neighboring Equatorial Guinea agreed in 2017 to develop their Yolanda and Yoyo gas condensate discoveries as a single resource jointly, but progress on a deal has since been slow.
  • What is happening in Cameroon?
  • In the meantime, Cameroon continues to concentrate on upstream and downstream activities. Downstream, the country plans to refurbish the national oil refinery, SONARA, following a devastating fire of an unknown cause in June 2019. There are opportunities in storage, pipelines, and gas-to-electricity power stations.
  • What opportunities are there in Cameroon?
  • There are opportunities in storage, pipelines, and gas-to-electricity power stations. According to Cameroon’s EITI Committee, the extractive sector contributed 3.9% to Cameroon’s GDP in 2021 against 2.20 in 2020, 16.3% to the State revenue against 16.3% in 2020, and 31.2% to exports against 31.2% in 2020 (see table below).