Glencore's attributable oil production in Cameroon decreased by 14% in the first quarter of 2026, according to the production report published on April 30, 2026, by the Swiss group. This decline brings production to 36,000 barrels, compared to 42,000 barrels for the same period in 2025.
Cameroon is among Glencore's non-operated oil assets, alongside Equatorial Guinea. The total attributable production of this portfolio reached 739,000 barrels of oil equivalent in the first quarter of 2026, compared to 883,000 barrels of oil equivalent a year earlier, a decrease of 16%. In gross terms, the production of Cameroonian assets amounted to 147,000 barrels in the first quarter of 2026, compared to 151,000 barrels in the same period in 2025, representing a decrease of 3%.
Glencore attributes this overall decline to the natural decline of oil fields. However, the group notes a sequential improvement in the production of this portfolio, with an increase of 22% compared to the previous quarter, following repairs carried out on downstream facilities in the second half of 2025.
Cameroon's contribution remains marginal in Glencore's non-operated oil portfolio. With 36,000 barrels, the country accounts for approximately 4.9% of the total portfolio production in the first quarter of 2026, far behind Equatorial Guinea with 703,000 barrels of oil equivalent. Glencore reported payments of approximately $33.08 million (CFA18.5 billion) to Cameroon between 2024 and 2025, with less than CFA5 billion from income taxes. Glencore's attributable production from the Bolongo project totaled 161,000 barrels in 2025, down from 201,000 barrels in 2024, a 20% year-over-year decline.
