Key data

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Key figures from 1^st January to 30 June 2024:

National crude oil production: 11. 104 million barrels
Quantities of crude oil exported on behalf of the State: 6.131 million barrels
National natural gas production: 42 491.63 million Standard Cubic Feet (SCF)
Quantities of natural gas supplied to the Kribi Thermal Power Plant for electricity generation: 5.238 billion SCF, at 1000 BTU (British Thermal Unit)/SCF
Quantities of domestic gas supplied to the local market: 15 142.018 metric tons
Quantities of liquefied natural gas exported on behalf of the State: 8 512 243 million BTU (MMBTU)
Amount of transfers to the State: 265.316 billion CFAF

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 4^th quarter of a given fiscal year are taken into account in the 1^st 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".