Middle East / Africa
Country profile: Chad
|Location:||Central Africa, south of Libya|
|Climate:||tropical in south, desert in north|
|Terrain:||broad, arid plains in center, desert in north, mountains in northwest, lowlands in south|
|Size:||1 sq. km total (Land area: 1259200 sq. km Water area: 24800 sq.km)|
|Population:||10,111,337 (July 2008 est.)|
|Languages:||French (official), Arabic (official), Sara (in south), more than 120 different languages and dialects|
|Legal system:||based on French civil law system and Chadian customary law; has not accepted compulsory ICJ jurisdiction|
|Currency:||Communaute Financiere Africaine franc (XAF); note|
In the last three years, Chad’s economy has experienced strong economic growth from its oil industry. In 2004, foreign investments into Chad and petroleum exports via the Chad-Cameroon pipeline were the primary driving forces behind the country’s considerable real gross domestic product growth (GDP) rate of 30 percent. In 2005, high oil prices attributed to Chad’s GDP growth rate of 7 percent. Investments in Chad’s oil industry have led to growth in other areas as well, such as the trade, transportation, and public services sectors. Additional economic growth is expected to come from foreign investment in new oil exploration licenses that are to be offered in 2007. Although oil production was not impeded, Chad experienced civil strife throughout 2006, which included rebel forces marching on the capital, N’Djamena.
Cameroon’s economy has exhibited steady economic growth since the mid 1990’s. However, the country saw a slight decline in real GDP growth after the completion of the Chad-Cameroon pipeline. In 2005, the real GDP growth rate was 2.6 percent. High energy prices have helped offset economic growth declines, but they have also increased inflationary pressures in Cameroon. In 2005, inflation was 2 percent. In May 2006, the International Monetary Fund (IMF) and the World Bank indicated that Cameroon had completed its obligations under the Enhanced Heavily Indebted Poor Countries (HIPC) Initiative. Cameroon will now receive more than $1 billion in bilateral debt relief and additional multilateral aid, which together, will provide a 50 percent reduction in the country’s total external debt.
Chad became a net petroleum exporter after the Chad-Cameroon pipeline came online in 2003. Industry experts still consider Chad under-explored, and future oil discoveries could increase petroleum exports even more. Chad lacks refining infrastructure and relies on neighboring Cameroon and Nigeria for refined product imports, however, delivery problems often leave Chad faced with refined product shortages. Chad has no known natural gas reserves and neither produces nor consumes natural gas. Due to a lack of investment, Chad generates and consumes only small amounts of electricity, of which, 100 percent is conventional thermal electricity. In place of electricity, the majority of Chadians rely on biomass fuels such as wood and animal dung.
Cameroon has experienced a fairly steady decline in its domestic oil production over the past 20 years. The country is still a net oil exporter, but if new fields do not come online in the near future, Cameroon could become a net oil importer. Currently, Cameroon does not produce any natural gas, but the country has plans to develop its natural gas reserves for generating electricity in the future. The majority of electricity generated in Cameroon comes from hydroelectric power stations, though droughts can often leave the country dealing with electricity shortages.
Energy production and consumption
|Production:||176,700 bbl/day (2005 est.)|
|Consumption:||1,350 bbl/day (2005 est.)|
|Exports:||170,000 bbl/day (2004 est.)|
|Imports:||1,316 bbl/day (2004 est.)|
|Reserves:||1 billion bbl (1 January 2006 est.)|
Chad - recent news
|16 Mar 20
||Chad: Petronas and Exxon working with advisers on a proposed sale of their stakes in Chad project
Osaka Matsui Management analysts have reported that both oil giants Petronas and Exxon are working with advisers on a proposed sale of their stakes in the Chad project expected to be worth more than USD 1 billion. The project includes oil fields in southern Chad and a major pipeline transporting crude oil to a marine terminal for exportation in Cameroon.
|12 Jun 19
||Chad: Glencore puts Chad oilfields up for sale - sources
Mining and trading giant Glencore has put its oilfields in Chad up for sale, according to sources, in a retreat from its foray into oil production following asset writedowns over the past decade.
Chad - more news
Other countries in this region
- Central Africa Republic,
- Congo (Brazzaville),
- Congo (Democratic Rep.),
- Cote d'Ivoire,
- Equatorial Guinea,
- Guinea (Republic),
- Guinea Bissau,
- Sao Tome,
- Saudi Arabia,
- Sierra Leone,
- South Africa,
- South Sudan,
- United Arab Emirates,
- Western Sahara,