期刊名称：International Journal of Advances in Engineering and Management
电子版ISSN：2395-5252
出版年度：2020
卷号：2
期号：8
页码：698-702
DOI：10.35629/5252-0208640643
语种：English
出版社：IJAEM JOURNAL
摘要：Cameroon is the smallest oil producer in sub-Saharan Africa, having a declining production level. Crude Oil Production in Cameroon averaged 85.27 BBL/D/1K (thousands of barrel per day) from 1993 until 2020, reaching an all-time high of 138 BBL/D/1K in February of 1993 and a record low of 59 BBL/D/1K in August of 2011. It declined by nearly 40 percent over the decade through 1996. However, the pace of the decline has slowed. Private oil companies are responsible for exploration and exploitation, but the government remains a key player in the sector. Cameroon, an oil exporter with a bloated bureaucracy, was still reeling from the 2014-2016 oil price collapse, one of the most significant oil price slumps in modern times. The country had also increased security spending countering Boko Haram incursions in the north since 2014, while battling to quell an armed secessionist struggle in its English-speaking regions since 2017.The economic shock and insecurity were already a burden, but were compounded by necessary increases in humanitarian spending. Then, the coronavirus struck. In five months, following the outbreak of the coronavirus in Cameroon on 6 March, 2020, the government has spent slightly over 21.9 billion francs CFA (circa $54.1 million) in its response to the pandemic, according to a report on relief web on 29 July, 2020. This crisis would mean the loss of a projected oil and gas sector innovations.Thepaperhighlights the oil and gas industry of Cameroon.
