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Infos Business of Tuesday, 22 July 2014

Source: APAnews

Paul Biya endorses Niger oil transit through Cameroon

Cameroon’s President Paul Biya, has endorsed parliament’s law allowing crude oil from Niger and Chad to transit through his country to the Atlantic ocean port for further exportation, official sources told APA on Monday.

These legal provisions follow bilateral agreement dated on 30th October 2013, but also another agreement signed between Niger and Chad on the construction of a 600 km oil pipeline to join the Chad-Cameroon pipeline for crude oil to run through the city of Kribi (southern Cameroon).

Niger aims to exploit its crude from the Agadem block with an expected production of 100,000 barrels per day, including 80,000 barrels which will be exported through the pipeline.