The objective of this paper is to explore the National Hydrocarbons Corporation (NHC) (Societe National Des Hydrocarbures (‘‘SNH’’) a group, as it holds shares in various companies operating in the petroleum, para-petroleum and related sectors in Cameroon. Its portfolio includes 12 companies.[i] Does the involvement of SNH into other activities other than the oil and gas industry of any utmost interest to the National Hydrocarbons Corporation in particular and Cameroonians in general? From all indications, the State Corporation has been transferring huge sums of finances into the Public Treasury[ii] as well as balancing the economy of the country. In addition, government appears irrevocably committed to the implementation of deregulation of the petroleum sector as the only viable option for the survival of the oil industry, while one feels strongly to support government in principle even though one believes that several other options are available to achieve the same results, – availability of fuel at all times.
[i] These companies are: Hydrocabures-Analyses-Controles SA, Cameroon Hotels Corporation (HILTON HOTEL), Chanas Assurances SA, Perenco Cameroon SA, (PERCAM), Perenco Rio Del Rey, ADDAX Petroleum Cameroon Company SA (APCC), Cameroon Oil Terminal SA (COTSA), (SCDP), Cameroon Oil Transportation Company SA, (COTCO); The National Oil Refinery Company Limited (SONARA), Societe de Trading et d’Exploitation Petroliers SA (TRADEX), and Cameroon Shipyard And Industrial Engineering Ltd. (CNIC). At first 13 but in view of the negative financial situation of IBC SA, the Wouri Court of High Instance pronounced its liquidation on 11th December 2017. For details, see SNH INFOS, Quatertly review of the National Hydrocarbons Corporation. SOPECAM. No 65/66 July 2020. P.41.
[ii] For example, in 2020, gross dividends received from share companies amounted to 35.065 billion cfaf, in 2019.
