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Does Cameroon Have Oil?

Sarah Jenkins • • 6 min read
Does Cameroon Have Oil?

Oil Reserves in Cameroon
Cameroon holds 200,000,000 barrels of proven oil reserves as of 2016, ranking 55th in the world and accounting for about 0.0% of the world's total oil reserves of 1,650,585,140,000 barrels. Cameroon has proven reserves
proven reserves
There are 1.65 trillion barrels of proven oil reserves in the world as of 2016. The world has proven reserves equivalent to 46.6 times its annual consumption levels. This means it has about 47 years of oil left (at current consumption levels and excluding unproven reserves).
equivalent to 13.7 times its annual consumption.

Where is oil found in Cameroon?

Natural resources

Cameroon has rich deposits of crude oil, natural gas, cobalt, bauxite, gold, iron ore and diamonds. Development of oil and gas is taking place mainly offshore in the Gulf of Guinea, while mining exploration is focused on roughly 40% of Cameroon's territory.

Does Cameroon export crude oil?

In 2017, Crude Petroleum ($1.34 billion) was Cameroon's biggest export, while Refined Petroleum ($396 million) and Crude Petroleum ($220 million) were its second and fourth largest imports, respectively. ... Cameroon benefits tremendously from its oil and gas reserves.

Sarah Jenkins
Author

Sarah Jenkins

Sarah Jenkins is a veteran tech journalist with over 12 years of experience covering artificial intelligence, mobile innovations, and digital ethics. Her insights have appeared in leading technology publications worldwide.