Cameroon Market Research

The Cameroon market research indicates that there will be a marginal difference between the oil consumed by Cameroon and the amount produced by the end of 2014. The share of Cameroon in the African region oil consumption will... view more

Cameroon Market Research

The Cameroon market research indicates that there will be a marginal difference between the oil consumed by Cameroon and the amount produced by the end of 2014. The share of Cameroon in the African region oil consumption will be 1% and the percentage produced by them will be a little lower at 0.72%. The African region consumed 2.98mn b/d oil in 2001 which has risen to 3.60mn b/d by the end of 2009. There is going to be a further rise to 3.67mn b/d by the end of 2010, while it will be at 4.14mn b/d by the end of the estimated forecast period ending in 2014. The amount of oil exports is increasing steadily because the demand is easily outpacing the supply. The export amount in 2001 was 4.86mn b/d while it increased to 6.08mn b/d by the end of 2009. This is estimated to further increase to 7.66mn b/d by 2014. Of the African region, the country which has the highest growth potential is Angola. Nigeria can also exhibit a high growth rate if it resolves its quasi-political issues. In the case of natural gas, the African region consumed 122.9bcm in 2009 and the estimate says that there will be an increase up to 175.9bcm by the end of 2014. The supply in terms of natural gas is more and the net imports should rise from 120bcm in 2009 to 216bcm in 2014. The market research says that there is no contribution from Cameroon in either the production or the consumption.

The BMI states that the real GDP of Cameroon is 2.4% in 2009 which should rise to 3.6% in 2010. There is a further estimate that the growth percentage in the estimate period of 2010-2014 will be at annual average of 4.7%. Further, the research estimates that the oil demand is going to rise from 33,000bd in 2009 to 42000bd by the end of 2014. The state oil company Société Nationale des Hydrocarbures works in collaboration with a few international oil companies. This company is responsible for handling the government’s stake in the oil sector and it also owns 20% stake in Total, Pecten and Perenco. Due to IOC investment in the oil and gas sector, there is going to be an increase in the total oil and liquids output from 74,000bd in 2009 to 85,000bd by the end of the estimate period of 2010-2014. In the estimate period, the gas production is also expected to rise which would provide the base for LNG exports by the end of 2016. Right now, in BMI’s composite Business Environment Ratings table, Cameroon is placed just above Sudan and Equatorial Guinea and is placed at the 9th position. But it is only 3 points behind South Africa on the table, which means that it has possibility of making medium-term progress up the table.