The Hydrocarbons Price Stabilisation Fund, CSPH, has proposed a plan of action to enable them curb the existing problems in the petroleum sector caused by the increase in demand from the local market alongside the various stakes and challenges involved in the regulation of petroleum prices in the country.

The proposal was presented to reporters in Kribi recently, during a seminar to inform economic journalists on the challenges and stakes of the regulation of petroleum products in Cameroon.

The proposed actions set in to provide a good number of axes in search of solutions permitting them to establish equilibrium between any demand and supply of products on the market which are rocked by structural and conjectural problems.

Some of the actions to be undertaken, amongst others, include: the extension of SONARA’s production capacities through the installation of a hydro cracker capable of treating all kinds of crude, the creation of a petroleum HUB at the Kribi port by SCDP, the construction of a series of structures round the national territory by both CSPH and the National Hydrocarbons Company, SNH, a progressive reduction in the subventions in the prices of petroleum products.

In his opening speech the president of the Association of Economic Journalists, Francois Bambou, said the seminar came at the nick of time to empower journalists to inform the public with precision on subsidies on petroleum products which is a topic in actuality. He described CSPH as a strategic partner of the association.

Speaking on behalf of the General Manager of the CSPH, Boniface Ze, said their company shoulders the responsibility of protecting consumers making sure that the rising prices of petroleum products in the world market should not weigh down on the local market. It was for this reason, he said, that Government created the outfit in 1974 to regulate the prices of hydrocarbon products partially and totally.

He added that they had the control role to ensure that hydrocarbon products are distributed round the country almost at the same prices.

Statistics from the company reveal that petroleum products are highly solicited in national and International world economic structures. Their marketing brings together many actors and investors. To get crude oil, one has to focus more on the evolution of different parameters of the market which fluctuates depending on the offer; the geopolitical and climatic contexts; the commercialisation of petroleum products round the national territory and response to other mechanisms.

The various presentations at the gathering were centered on various topics ranging from legal; the commercialisation of petroleum products on the international system; the state of affairs on the internal petrol market and mechanisms of subvention, amongst others.