By Godlove BAINKONG, Cameroon Tribune, 29-10-2013
SNH and COTCO on October 29, 2013 in Yaounde signed an amendment to that effect.
Transit fee paid to the government of Cameroon for forwarding Chadian crude oil through its territory has moved from the hitherto 0.41 US dollars (FCFA 194.91) per barrel to 1.30 dollars (about FCFA 618.02). The Executive General Manager of the National Hydrocarbons Cooperation (SNH) and Chairman of the Pipeline Steering and Monitoring Committee, Adolphe Moudiki, and the General Manager of the Cameroon Oil Transportation Company (COTCO), Christian Lenoble, yesterday October 29, 2013 signed an amendment to the initial convention with COTCO. The ceremony that took place at the head office of SNH in Yaounde was chaired by the Minister of Mines, Industries and Technological Development, Emmanuel Bonde.
The amendment therefore institutes a new rate of the transit fee and according to its terms, the transit fee will be updated every five years as per the annual inflation rates published by the Bank of Central African States (BEAC) during the preceding five years. “The rate is applicable, without discrimination, to all shippers of crude oil originating from other countries and transported through the Chad-Cameroon Pipeline,” a press release that sanctioned the amendment signing ceremony states.>>>