Commodity trader Glencore says it paid about $33.08 million, or nearly CFA18.5 billion, to Cameroon between 2024 and 2025 through its extractive activities linked to the Bolongo oil project. The figures come from the company’s reports on payments to governments, published under transparency rules that apply to extractive industries in the United Kingdom. The disclosures provide a snapshot of Glencore’s financial contribution in one of Cameroon’s aging oil basins. Most of the payments made over the two-year period were tied to production entitlements transferred to the Cameroonian state through the National Hydrocarbons Corporation (SNH), along with taxes on profits. Out of the CFA18.5 billion paid during the period, less than CFA5 billion came from income taxes. The remainder came from production entitlements, meaning the state’s share of oil production under production-sharing contracts. In 2025 alone, Glencore reported payments of $11.5 million, or about CFA6.5 billion, to Cameroon. That amount included $9.795 million in production entitlements and $1.705 million in income taxes. The company’s 2025 report states that the payments were tied exclusively to the Bolongo project. A year earlier, Glencore reported significantly higher payments totaling $21.58 million, or about CFA12.1 ...
Cameroon Sees Lower Glencore Oil Revenue as Bolongo Output Weakens
