Cameroon’s National Hydrocarbons Corporation (SNH) has reported CFA49.253 billion available for transfer to the government at the end of the first quarter of 2026, following revenue generated from the country’s oil and gas activities.
The amount represents 52.2% of the CFA94.345 billion in gross revenue recorded from the sale of the state’s share of hydrocarbon production and other related income during the quarter.
SNH said the remaining CFA45.093 billion was allocated to expenses and financial commitments, including partnership costs, gas-sector obligations, and other operational requirements. However, the company did not provide a detailed breakdown of these commitments or confirm which amounts had already been paid.
The reported figure refers to funds “available for transfer” rather than money already transferred to the state treasury. As a result, it should not be considered government revenue received during the period. Differences between SNH’s figures and official budget reports may be linked to timing and accounting differences.
According to Cameroon’s Ministry of Finance, the Treasury received CFA91.8 billion in SNH royalties by the end of March 2026, compared with a quarterly target of CFA106 billion. Available information does not provide a complete reconciliation between the two figures.
Crude oil remained the largest contributor to Cameroon’s hydrocarbon revenue during the first quarter. Sales of 1.662 million barrels generated CFA64.218 billion, representing more than two-thirds of the state’s gross hydrocarbon income. The barrels were sold at an average price of $69.74 per barrel, generating total sales of about $115.877 million.
Natural gas was the second-largest contributor, generating CFA22.112 billion in revenue. Gas sales included transactions with companies such as Gazprom and other industrial customers. Liquefied petroleum gas (LPG) sales and other revenue sources also contributed to the quarterly total.
Oil production allocated to the government and operating partners reached 4.599 million barrels during the quarter. The government received 2.691 million barrels, while private partners were allocated 1.908 million barrels.
Production remained concentrated in the Rio del Rey basin, which accounted for more than half of total crude output. The Sanaga South field dominated natural gas production, contributing nearly all of the country’s gas output during the period.
SNH also reported that private operating partners generated nearly CFA198.9 billion in hydrocarbon sales during the quarter. Crude oil accounted for the largest share, followed by natural gas and LPG. However, SNH noted that differences in sales prices between state and partner volumes cannot be directly compared without additional information on crude quality, contracts, and market conditions.
Combined hydrocarbon sales from the government’s share and private partners reached CFA288.642 billion during the first quarter. Including other income, the total commercial value recorded by SNH stood at CFA293.236 billion.
The figures highlight the continued importance of oil and gas revenues to Cameroon’s economy, while also showing the need for clear accounting distinctions between commercial transactions, available balances, and actual government receipts.
