In the first four months of 2020, Cameroon’s oil production rose despite the coronavirus pandemic, according to the National Hydrocarbons Corporation (SNH).

From the oil field in operation, the country produced 9.035 million barrels, up by 11.51%. Gas production, on the other hand, reached 745.95 million metric cubes, down by 0.28%.

The SNH informs that the new drillings started by the petroleum association Moabi and Rio del Rey were stopped because of the coronavirus pandemic. Also, during the period under review, the average price of Cameroonian crude dropped by 39.41% to $39.22 per barrel.

Considering the drop, the June 2020 amending finance act slashed the country’s oil revenues projections by 40% compared with the initial target.

 

Source: Business In Cameroon

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