• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 6 mins GREEN NEW DEAL = BLIZZARD OF LIES
  • 7 days Does Toyota Know Something That We Don’t?
  • 23 hours America should go after China but it should be done in a wise way.
  • 7 days World could get rid of Putin and Russia but nobody is bold enough
  • 9 days China is using Chinese Names of Cities on their Border with Russia.
  • 10 days Russian Officials Voice Concerns About Chinese-Funded Rail Line
  • 10 days OPINION: Putin’s Genocidal Myth A scholarly treatise on the thousands of years of Ukrainian history. RCW
  • 10 days CHINA Economy IMPLODING - Fastest Price Fall in 14 Years & Stock Market Crashes to 5 Year Low
  • 9 days CHINA Economy Disaster - Employee Shortages, Retirement Age, Birth Rate & Ageing Population
  • 15 hours How Far Have We Really Gotten With Alternative Energy
  • 10 days Putin and Xi Bet on the Global South
  • 10 days "(Another) Putin Critic 'Falls' Out Of Window, Dies"
  • 11 days United States LNG Exports Reach Third Place
  • 11 days Biden's $2 trillion Plan for Insfrastructure and Jobs
Editorial Dept

Editorial Dept

More Info

Global Energy Advisory March 24th 2017

Politics, Geopolitics & Conflict

• Violence in South Sudan has further spiked after the announcement of a $500-million oil exploration deal between the government and Nigerian Oranto Petroleum. Rebel forces loyal to former Vice President Riek Machar have kidnapped two groups of oil workers over the past couple of weeks. One of the kidnappings involved employees of Oranto, while five others, including an engineer with the DAR consortium, were also kidnapped. The DAR consortium includes Chinese Sinopec and CNPC, and Malaysia’s Petronas. The rebels are vague on the reasons for the kidnappings. One group has said they are trying to prevent DAR from operating in South Sudan, while a separate group said it would not allow any drilling in territory they control until they are victorious over government forces. As the civil war rages on, the government still plans—unrealistically—to double its current oil production to 290,000 barrels per day in fiscal year 2017/2018, up from current output of around 130,000 barrels per day. Since its independence, South Sudan has relied on oil for all income—a situation that has significantly compounded ongoing political and economic instability due to the fall in crude oil prices. According to South Sudanese officials, production in the past reached as high as 350,000 bpd but fell after a dispute with Sudan over fees for pumping South Sudan’s crude through Sudan’s export pipeline, which led South…




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News