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Cedecorp to build second Cameroon oil refinery

10.08.2012  | 

The new processing plant will produce between 200 and 300 bpd of refined fuel and Cedecorp will run the refinery for 10 years before handing it over to Cameroon. The project will be entirely funded by Texas firm Refinery Technology, although the cost of the construction wasn't disclosed.

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By EMMANUEL TUMANJONG

YAOUNDE, Cameroon -- Cedecorp S.A. will construct Cameroon's second refinery, giving the West African nation the chance of refining its own heavy crude, state-run Cameroon Radio Television reported Sunday.

An agreement between the company's representative Michael Eppler and Cameroon's Minister of Energy and Water Resources Basile Atangana Kouna was signed Thursday.

According to the terms of the accord, which is based on a build, operate and transfer agreement, Cedecorp will take 30 months to construct the new refinery on an area of 500 hectares in the Atlantic port town of Kribi, located some 300 kilometers southwest of Yaounde.

The new processing plant will produce between 200 and 300 bpd of refined fuel and Cedecorp will run the refinery for 10 years before handing it over to Cameroon.

The project will be entirely funded by Texas firm Refinery Technology, although the cost of the construction wasn't disclosed.

Cameroon exports almost all of its 21 million bbl of heavy crude to buy light crude from Nigeria, which is subsequently processed by Cameroon's lone government-run national oil refinery plant in the sister coastal town of Limbe in southwest Cameroon.

A rise in fuel prices at the filling stations in February 2008 resulted to the death of at least 40 people in clashes between government-deployed troops and angry protesters.


Dow Jones Newswires



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Francis MUTON
01.21.2014

The construction of this Refinery is good Direct Foriegn investment which will contribute to the Cameroonian economy and the investors. I am just worried about the 10 years BOOT, will it be enough to break-even?

Engr jimoh, O.Y.
10.13.2012

The new Refineries nowadays are involving hugh cost to bear. Is it attributable to increased energy cost or due to scarce human resource. I hope the Return on investment (ROR) will follow the same curve for the new refineries investment in the HPI.

Cheers.

Divine Ryhyme
10.12.2012

The greed of Francophone Cameroon is blinding it to see the writing on the wall. The construction will be a waste of resources because they are doing so only to refine stolen crude from Southern Cameroons which they will not get after a short time from now.. With the Ekiks in Nigeria threatening to join the Free Southern Cameroons movement, the drama is just only begin to unfold. This decision alone to join the Free Southern Cameroons movement is good enough to give a new twist to the whole struggle which the international community cannot continue to afford to ignore. The success of the struggle looks promising because it is not just a simple struggle of secession but a development that Francophone Cameroon itself through negligence engineered single handedly for over forty years today. They thought they were simply ignoring a voiceless and weak minority. But nature has a way of settling the scores of a good and righteous cause.

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