Yaounde, Cameroon Africa. (Cameroon News) – The National Hydrocarbons Corporation, the State-owned company in charge of hydrocarbons in Cameroon, has contributed FCFA 443.826 billion to the State treasury.
The Board Chairman of the corporation, Laurent Esso in a press release after its meeting in Yaounde on December 6, 2011, disclosed that the period considered runs up to October 31, 2011.
In the release published in the December 13, 2011 issue of the government National Bilingual daily newspaper, Cameroon Tribune, the contribution of the hydrocarbons corporation to the 2011 State budget records a sharp 33.31 percent increase from that of 2010 that stood at FCFA 362.93 billion for the same period.
The corporation, the release stated, sold 12.361 barrels of oil over the first 10 months of 2011 against, 12.092 million barrels for the same period of the year 2010, registering an increase of 2.23 percent.
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The company equally took advantage of the favourable market situation with the average selling price that stands at 109.26 US Dollars per barrel, implying an increase in of 32.47 US Dollars per barrel compared to the same period in 2010.
Laurent Esso in the press release announced that in line with the instructions of the Head of State, Paul Biya on the revival of agricultural production, the National Hydrocarbons Corporation has started feasibility studies on the construction of a gas fed chemical fertilizer plant in partnership with a German company, Ferrostaal.
In our country some people are driven by a strong sense of the negative and they spend their time saying nothing has ever been done to boost our economy, that our economy has been degrading since President Paul Biya took over power. Examples like this are always there to speak enough for themselves.