Cameroon has deepwater exploration and production. Oil and Gas activities include Exploration, Production, Gas, Oil, Refinery, Onshore and Offshore in the following region Douala.
The new Cameroon Oil & Gas Report forecasts that the country will account for 1.02% of African regional oil demand by 2014, while providing 0.76% of supply. African regional oil use of 2.93mn barrels per day (b/d) in 2001 rose to an estimated 3.57mn b/d in 2009. It should average 3.63mn b/d in 2010 and then rise to around 4.08mn b/d by 2014. Regional oil production was 7.77mn b/d in 2001, and in 2009 averaged an estimated 9.64mn b/d. It is set to rise to 11.83mn b/d by 2014. Oil exports are growing steadily because demand growth is lagging the pace of supply expansion. In 2001, the region was exporting an average 4.83mn b/d. This total had risen to an estimated 6.07mn b/d in 2009 and is forecast to reach 7.75mn b/d by 2014.
Natural Resources: petroleum, bauxite, iron ore, timber, hydropower.
Cameroon is a west-African nation with a coast facing the Bight of Biafra in the Gulf of Guinea on the Atlantic Ocean.
Cameroons's major environmental issues include: waterborne diseases are prevalent; deforestation; overgrazing; desertification; poaching; and overfishing. It is susceptible to volcanic activity with periodic releases of poisonous gases from Lake Nyos and Lake Monoun volcanoes.
The region was split into two colonial areas, one French and one British after World war I. The former French Cameroon and part of British Cameroon merged in 1961 to form the present country. Cameroon has generally enjoyed stability, which has permitted the development of agriculture, roads, and railways, as well as a petroleum industry. Despite a slow movement toward democratic reform, political power remains firmly in the hands of President Paul Biya.
Economy
Because of its modest oil resources and favorable agricultural conditions, Cameroon has one of the best-endowed primary commodity economies in sub-Saharan Africa. Still, it faces many of the serious problems facing other underdeveloped countries, such as a top-heavy civil service and a generally unfavorable climate for business enterprise. Since 1990, the government has embarked on various IMF and World Bank programs designed to spur business investment, increase efficiency in agriculture, improve trade, and recapitalize the nation's banks. In June 2000, the government completed an IMF-sponsored, three-year structural adjustment program; however, the IMF is pressing for more reforms, including increased budget transparency, privatization, and poverty reduction programs. In January 2001, the Paris Club agreed to reduce Cameroon's debt of $1.3 billion by $900 million; debt relief now totals $1.26 billion. International oil and cocoa prices have a significant impact on the economy.
GDP (Purchasing Power Parity): $39.37 billion (2007 est.)
GDP (Official Exchange Rate): $20.65 billion (2007 est.)
GDP-real growth rate: 3.3% (2007 est.)
GDP-per capita (PPP): $2,100 (2007 est.)
GDP-composition by sector:
agriculture: 43.9%
industry: 15.8%
services: 40.3% (2007 est.)
Population Below Poverty Line: 48% (2000 est.)
Industries: petroleum production and refining, aluminum production, food processing, light consumer goods, textiles, lumber, ship repair
Exports: crude oil and petroleum products, lumber, cocoa beans, aluminum, coffee, cotton
Export Partners: Spain 20%, Italy 15.9%, France 11.8%, South Korea 8.5%, Netherlands 6.2%, US 5.8% (2006)
Imports: machinery, electrical equipment, transport equipment, fuel, food
Import Partners: France 23.3%, Nigeria 12.8%, China 9%, Belgium 5.8%, US 4% (2006)
Economic Aid Recipients: $413.8 million (2005)
Currency: Communaute Financiere Africaine franc (XAF)
Ports and Terminals: Douala, Limboh Terminal
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Resources:
www.companiesandmarkets.com/Summary-Market-Report/cameroon-oil-and-gas-report-q2-2010-285570.asp
http://www.eoearth.org/article/Cameroon
