Friday 8 December 2006

The CIA, Oil and Cameroon

According to the CIA fact book Cameroon procudes 82,300 bbl per day (bbl = abbreviation for barrel, one barrel equals 42 US gallons or approximately 159 litres) and consumes 23,000 per day. This means that approximately 59,300 per day goes into reserve. Almost 18 mio bbl per year. Now let's calculate quickly 1bbl of crude oil today is sold at around $62 per barrel. This means that the country could have gotten $1,260,000,000 in April 2006 when the prices climbed to above $70 today for last years reserve. And again according to the CIA, Cameroon has in fact 85 mio bbl deposited, meaning the country could get 5,270,000,000 more than £5 billion dollars today. Hmm, makes me wonder.
CIA fact book on Cameroon:
Cameroon produces 82,300 bbl per day (2005 est.)
Oil - consumption:
23,000 bbl/day (2001 est.)
Oil - exports:
NA bbl/day
Oil - imports:
NA bbl/day
Oil - proved reserves:
85 million bbl (2005 est.)
Pipelines:
oil 1,107 km (2006)
More on the oil interest of the US and China in Cameroon in tomorrows blog

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