Key data

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Key figures from 1^st January to 30 September 2023:

National crude oil production : 17.901 million barrels
Volume of crude oil sold on behalf of the State : 10.069 million barrels
Average official sales price of crude oil : 78.838 USD per barrel ($/bbl)
National gas production : 59.649 billion cubic feet
Quantities of natural gas sold by SNH to Kribi Power Plant for electricity generation : 8.223 billion standard cubic feet (scf) at 1 000 British thermal units/standard cubic foot (BTU/scf)
Average sales price of natural gas : 1 719.545 CFAF per scf at 1 000 BTUs
Quantities of domestic gas (LPG) supplied by SNH to the local market : 26.300 billion metric tonnes (MT)
Average sales price of LPG : 383 371.850 CFAF per MT
Quantities of liquefied natural gas (LNG) exported for the State : 13.583 billion SCF
Average sales price of LNG : 9.693 USD per mscf
Association expenses, gas commitments and other commitments : 178.944 billion CFAF

Transferable balance to the State : 425.142 billion FCFA

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".