NDIMUH B.SHANCHO
The Chief Executive Officer of Russia’s largest oil companies, LukOil, Vaguit Alekperov has promised to offer his expertise for the reconstruction of Cameroon’s National Refining Company, SONARA that was partially burnt, May 31, 2019.
Speaking to some Cameroonian press organs during the Russia-Africa Summit and Economic Forum, October 23-24, 2019, Vaguit Alekperov said his company will send its specialists to, together with Cameroonian specialists, study the possibilities of modernizing SONARA.
Meanwhile, Cameroonian officials are said to have also contacted Russian traders for the importation of fuel to make up for the production shutdown, at considerable prices.
Reports estimate Vaguit Alekperov’s 2019 personal fortune stood at USD22.1 billion, while his company, LukOil, has an annual turnover of USD80 billion and a net income of USD9.5 billion.
The May 31 2019 fire totally destroyed four of SONARA’s 13 production units and partially burnt three. On June 1, 2019, the General Manager of SONARA Jean Paul Simo Njonou issued a press release announcing a temporary suspension in production but reassured that the management of the company is making everything possible for work to resume as soon as possible. It is however, not certain if the refinery’s reconstruction will be completed before 2021.