Société des Hydrocarbures du Tchad

Stock performance

History

The Société des Hydrocarbures du Tchad (SHT) was created in 2006 as Chad's national oil company, a few years after the country began exporting oil in 2003 through the Chad-Cameroon pipeline. Its role expanded in 2023 when Chad nationalized the oil assets that ExxonMobil had agreed to sell to Savannah Energy.

Business model

SHT holds the state's stakes in oil fields, markets the state's share of crude, and participates in refining through the Djermaya refinery built with China's CNPC. Crude-for-cash arrangements with commodity traders have at times been a major source of state financing.

Market position

SHT is Chad's national oil company and a growing operator in a sector historically dominated by foreign companies.

Country impact

Oil provides most of Chad's export earnings and a large share of government revenue, so SHT's revenues and its oil-backed debts are central to the country's public finances.