Sinopec plans to increase its activities in Cameroon – including production and sale of lubricants – through the creation of a new subsidiary, Sinopec International Petroleum Service Corp. Cameroon.
According to Chinas ministry of commerce, the new Doula-based company – also known as Sinopec Service Cameroon – will have a wide range of business including asphalt production, lube production and sales, and refining.
Currently, Sinopecs major activities in Cameroon are oil and gas exploration and mining.
Sinopec first entered the Cameroon market through its Geneva-based subsidiary Addax, which it bought in 2009. Addax has long operated in major oil and gas-rich African countries, including Nigeria and Gabon. In 2013, Addax Petroleum Cameroon boosted its local oil production capacity to about 1 million tons, nearly doubled from 2011. In that year Sinopec bought Shells local business, Pecten Cameroon, and integrated it into Addax.