• 4 minutes The Federal Reserve and Money...Aspects which are not widely known
  • 8 minutes How Far Have We Really Gotten With Alternative Energy
  • 12 minutes  What Russia has reached over three months diplomatic and military pressure on West ?
  • 17 mins GREEN NEW DEAL = BLIZZARD OF LIES
  • 5 days Coincidence of EIA Report Delay? - "I had seen it delayed minutes, and a couple of times a few hours, but don’t recall something like this — do others?" asks Javier Blas
  • 3 days European Parliament Members, Cristian Terhes et al, push back against Totalitarian Digital ID and Carbon Tyranny in Europe.
  • 4 hours Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 2 days "How Long Will The Epic Rally In Energy Stocks Last?" by Tsvetana Paraskova at OILPRICE.COM
  • 5 days "...too many politicians believe things that aren’t true." says Robert Rapier
  • 6 days Demonising fossil fuels has caused major grid problem in Australia
  • 5 days Welcome to Technocracy - The New World Energy Order... "1000s Of Sydney Homes Plunged Into Darkness As Aussie 'Price Cap' Policy Sparks Energy Shortage"
  • 7 days "How to Calculate Your Individual ESG Score to ensure that your Digital ID 'benefits' and money are accessible"
  • 332 days Beware the Left's 'Degrowth' Movement (i.e. why Covid-19 is Good)
Biden's Gas Tax Suspension Proposal Falls Flat In Congress

Biden's Gas Tax Suspension Proposal Falls Flat In Congress

President Biden asked Congress on…

The Biggest Threat To Brazil’s Oil Boom

The Biggest Threat To Brazil’s Oil Boom

Brazil’s oil industry has had…

South Sudan Finds First Oil Since Its Independence

South Sudan’s oil minister reported on Thursday that the country has made its first oil discovery since declaring its independence eight years ago, according to Reuters.

The latest oil find, at 5.3 million barrels of recoverable oil, is small but noteworthy for the country that has seen its oil production fall from as much as 0.35 million barrels per day to the current level of 0.18 million barrels per day as the war with neighboring Sudan damaged critical infrastructure. South Sudan has plans to resume its pre-war levels by the end of next year.

For South Sudan this is critical. While it only produces 180,000 barrels per day, almost all of the country’s revenues come from its oil industry. According to the World Bank, South Sudan is the most heavily oil-dependent nation in the world.

South Sudan has been on a borrowing spree this year as it struggles to get its oil industry back on track. The loans, many of which were from China, were supposed to be paid back through future oil revenues –from oil that had not yet been gotten out of the ground. 

China is heavily embedded in South Sudan’s oil industry, and China’s JVs in the country are responsible for the majority of what it produces today.

South Sudan has plans to construct an inland crude pipeline that will tie into the main export pipeline that leads to Port Sudan at the Red Sea. The pipeline is expected to be completed in the fourth quarter of next year, S&P Platts said on Tuesday, quoting South Sudan oil minister Awow Daniel Chuang.

South Sudan is thought to hold 3.5 billion barrels of oil, much of which has yet to be explored.

By Julianne Geiger for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment

Leave a comment

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