NATIONAL HYDROCARBONS CORPORATION

Key data

About the transfers made by SNH to the State

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In accordance with its mission, the National Hydrocarbons Corporation (SNH) transfers to the State revenues from the sale of hydrocarbons, after deduction of expenses.

When referring to transfers to the State, two terms are used: transferable balance and transferred balance.

The transferable balance is taken from the Table of Oil Operations, a forecast table of income and expenditure, which is updated at the beginning of each quarter.

An adjustment is made at the end of each quarter to take into account final payments.

Adjustments done in the 4th quarter of a given fiscal year are taken into account in the 1st quarter of the following fiscal year.

Based on this mechanism, there is necessarily either a windfall (too much transferred) or a shortfall (less transferred) charged to the following year.

The balance transferred corresponds to the amount that is effectively transferred during a given fiscal year. These transfers are recorded as revenue in the State Financial Operations Table (TOFE) under the heading “SNH Royalties”.

Key figures

Key figures from 1st January to 30 June 2024

National crude oil production: 11. 104 million barrels Quantities of crude oil exported on behalf of the State: 6.131 million...

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Recap on production, sales and payments per fiscal year

Details accounts of SNH

Mandate of the state
Summary of financial statements
Certification reports
Company
Summary of financial statements
Certification reports