The Cameroon Company of petroleum depots (SCDP) is yet to comply with it’s regulatory stock standards and is requesting subvention from the state to that effect.
For days now in the city of Yaounde-Cameroon, drivers and riders have been going through hell to fuel their vehicles as most filling stations in the city constantly run short of liquid petroleum products (Gas oil, kerosine, petrol).
This Indicates that there is a problem with the distribution mechanism set up by SCDP nationwide.
Distribution huddles could either be as a result of crisis in the distribution channel or lack of products to be distributed.
The Cameroon Company of petroleum products is presently not up to regulatory standards with both it’s liquid and other products.
In 2017, the company set up a multi program to increase storage capacity to respond to market trends and comply with regulatory standards, but three (3) years after, much is still to be done.
The present security reserves of the state stand at 110.000 m3 for liquid products which can cover up for only 20 days in case of scarcity whereas according to world standards, state reserves should be capable of supplying the entire nation for 30 days when there is shortage in national reserves.
The Technical Rehabilitation Committee (TRC) of SCDP recently indicated that there is an increase in demand for petroleum products in Cameroon and thus there is need for the company to meet required standards in terms of its security deposits.
The problem here is not even with the availability of petroleum products but with the availability of storage facilities which presently are not enough.
This makes it difficult for ships transporting petroleum products to offload their contents and as such are forced to stay offshore for a while and not without incurring extra financial charges paid by the state.
To put and end to this situation and to get ready for an eventual scarcity of petroleum products in the country, SCDP is requesting states subvention to boost it’s storage capacity especially that of the strategic security stock, necessary in periods of scarcity.
The company is demanding 2 FCFA per litre of the product as state subvention because they say passing through the National Hydrocarbon Price Stabilization Fund would have more negative effects on state budget and cost at filling stations.
Critics have questioned why SCDP for over 40 years of storage and distribution Monopoly in the country cannot boost it’s storage capacity by itself.
The company, created in July 1979, now has a general storage capacity of 241.000 m3 in 13 modern depots across 7 regions of the country.
The company is now headed by Mr. Gabriel ETEKI Ebokolo as Director General appointed and installed on July 02, 2018 after a BoD meeting of the company.