Petroleum companies have been in existence in Cameroon since the 1950s. However, Cameroon still lags in the exploratory phase of crude oil and has a couple of companies in the sector.
The oil companies operating in Cameroon play a crucial role in the country’s economy. Oil and gas exports account for much of the government’s revenue.
National Hydrocarbons Company (NHC) is Cameroon’s state-owned oil company. NHC manages the government’s interest in the country’s oil and gas industry. This includes exploration, production, and sale of oil and gas.
Petroleum Companies in Cameroon (Oil and Gas)
National Hydrocarbons Company
The NHC partners with the following companies in the oil and Gas Sector in Cameroon:
- Gazprom
- Perenco
- Glencore
- Noble Energy
- Golar
- Sinopec
- Lukoil
- Tower Resources
- Grynberg
- Bowleven
- Victoria Oil and Gas
- New Age
- Yan Chang
Other Petroleum Companies in Cameroon
- Total Cameroon SA
- Blessing Petroleum SA
- Ola Energy Cameroon
- Petrolex Cameroun SA
- Tradex SA
- Citizen’s oil
- Bocom Petroleum SA
- Gulfin S&T Co
- MRS Holdings
- Green oil SARL
- Neptune oil SA
Pros and Cons of Oil and Gas (Petroleum) Companies in Cameroon.
The oil companies operating in Cameroon have positively and negatively impacted the country.
On the positive side, they have brought significant investment into the country, created jobs, and helped boost its economy. Sadly, there are concerns about the environmental impact of oil production in Cameroon and the potential for economic and social inequalities from the industry.
See Also: Cameroon Plans to Reduce 50 Percent of Diet-Related Disease.
Conclusion
Oil companies play an essential role in the economy of Cameroon, and their impact on the country is complex. Concerns about their effects on the environment remain. The Cameroon government and the oil companies must cooperate to benefit both parties.