Headline

China donates machinery to aid South Sudan's agricultural development | US ends financial assistance to South Sudan, warns of consequences | Gbudue government and SPLA-IO celebrates Peace in Yambio | Deadly Ebola outbreak in Congo puts South Sudan on high alert: U.N | How the United States Kept Arms Flowing into South Sudan |

PETRONAS: Growing hope in Africa to achieve potential on the continent

The Malaysian giant company, the PETRONAS is scaling up to exploit Africa natural resources for betterment of African people through education and provision of clean water. With its large population of the 15 per cent of the world’s population, the African continent has remained the poorest continent for centuries though it has eight per cent of the world’s natural gas reserves and can potentially be a source of hydroelectric power, solar energy and geothermal energy. Unlocking the potentials of…

Read More

South Africa plans $1bn investment in S.Sudan oil industry

The agreement, which will be subject to detailed negotiations between the countries, was made between two state-owned companies, South Africa’s Central Energy Fund and South Sudan’s Nile Petroleum Corporation. South Sudan’s oil minister Ezekiel Lol Gatkuoth said the investment will go into building a refinery and pipelines as well as oil exploration and training of workers and engineers. South Sudan currently produces around 155,000 barrels per day, less than half of what production was at the start of the…

Read More

Russian oil firm signs deal with South Sudan

Russia’s Gazprom Neft has signed a memorandum of understanding with South Sudan to explore four oil blocks, South Sudan’s petroleum minister said on Tuesday. The oil arm of Russian gas giant Gazprom was awaiting more information on the blocks from the Petroleum Ministry before starting exploration, Petroleum Minister Ezekiel Lol Gatkuoth told Reuters. Gazprom Neft did not respond immediately to a request for comment. Other foreign firms active in South Sudan’s oil industry include China National Petroleum Corporation (CNPC),…

Read More

Politics overlaps with banking in South Sudan

South Sudan’s political elite has been accused of hijacking the banking system for personal gain and locking out local businesses and citizens. Out of the 26 banks operating in South Sudan, 14 are partially owned or controlled by politically exposed persons (PEPs) who exert undue political influence in the banking sector, says a new report by US corruption watchdog, The Sentry. The report, “Banking on War: Ending the Abuse of South Sudan’s Banking Sector by Political Elites,” which was…

Read More

South Sudan Extends Oil Agreements For Three Blocks

South Sudan extended oil agreements for three blocks, the petroleum minister said Sept. 10, seeking to revamp activity in the sector which ground to a halt after years of civil conflict. The government said last week it expects to hit peak oil output of 350,000 barrels per day (bbl/d) by mid-2019 as production ramps up at oil fields that were offline due to the violence. South Sudan seceded from Sudan in 2011 when output peaked at 350,000 bbl/d but…

Read More

South Sudan to Begin Oil Exports From Unity, Upper Nile

Oil Minister Ezekiel Lol Gatkuoth announced that the Tharjiath oilfields Unity State and Upper Nile, which were affected by the civil war, will be fully operational by the end of the year. The government hopes to produce about 40,000 barrels per day from the Unity wells to boost the current low production of 130,000 barrels per day, down from the 350,000 the country used to produce before the war broke out in 2013. Currently, only the Faloij oilfields in…

Read More

South Sudan ‘remains trapped in cycle of debt’

South Sudan remains trapped in a worsening cycle of debt as it is losing large portions of revenues through compensation agreements and defense expenses, according to a report by the World Bank. South Sudan has been using its net oil revenue to repay debts from oil trader Trafigura and advances to the Sudan. The World Bank says this has left the country with little net oil revenues to fund the 2018/2019 budget. “Given these financing shortfalls, the government has…

Read More

Kiir worried over bloated unity government

South Sudan’s President Salva Kiir has expressed concern that the upcoming transitional government will require a lot of money. South Sudan’s parties signed a peace agreement in Khartoum on Sunday in the latest attempt to end the country’s five-year civil war. As part of the deal, Kiir will remain president and his main rival Machar will be reinstated as the First Vice President, one of five vice presidents. The deal also provides for 35 ministries and 550 members of…

Read More

South Sudanese say hope peace deal helps revive economy

  A peace deal in South Sudan has revived hope not just that the guns will stop firing but that economic stability can return. Since war broke out in 2013, tens of thousands of people have been killed, a third of the population has fled their homes and the economy, which depends on oil, has been ruined. On Sunday President Salva Kiir and his former vice president turned rebel leader Riek Machar signed a ceasefire and power-sharing agreement in…

Read More

South Sudan terminates petroleum license talks with Total

South Sudan has called off talks with French oil major Total about developing two oil blocks, the petroleum ministry said on Wednesday, paving the way for other investors keen on exploring the vast area thought to be rich in hydrocarbons. Total, alongside two other oil companies, has been in talks with the country’s government about developing the area called B1 and B2 since 2013. “The Ministry of Petroleum regrets that negotiations with Total have concluded in no deal,” Petroleum…

Read More