05-02-06 Chad's president, already embroiled in an oil revenues dispute with the World Bank, called on foreign energy partners to renegotiate a 1988 oil deal, which he criticized as "a fool's agreement."
President Idriss Deby said his country was receiving too small a share of oil revenue from the 1988 agreement signed with a consortium headed by ExxonMobil.

The deal led to the construction of a $ 3.7 bn pipeline which now carries landlocked Chad's oil to the coast of Cameroon.
"Chad only gets 12.5 % of royalties from the oil revenues ... I didn't sign the agreement, it was my predecessor... it's a fool's agreement," Deby said.

Under the original 1988 oil development agreement with the foreign consortium, Chad gets 12.5 % of the wellhead value of total production, before quality discount and the cost of sending it through the pipeline to Cameroon's Kribi terminal.

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