• 3 minutes Electric cars may make driving too expensive for middle classes, warns Vauxhall chief
  • 6 minutes Natural gas mobility for heavy duty trucks
  • 12 minutes Colonial pipeline hack
  • 3 mins U.S. Presidential Elections Status - Electoral Votes
  • 11 mins Texas Power Outage Danger Until June 18th. Texans told to conserve energy!
  • 10 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 2 hours Succession Planning in Human Resources for Vaccinated Individuals in the Oil & Gas Industry
  • 3 days And now, hybrid electric locomotives...
  • 7 hours Federal Judge Says Biden Probably Wrong for Halting Drilling on Federal Land

Sudan, South Sudan Sign Deal To Boost Oil Output

Sudan and South Sudan have signed a deal to open direct trade along the border and increase production in the oil fields in South Sudan that are currently not functioning, in an agreement that will serve as an economic lifeline to both countries.

Both Sudan and South Sudan desperately need the oil and revenues, so the agreement would likely work, analysts told Al Jazeera.

South Sudan gained independence from Sudan in 2011, but it has been a bloody road to establishing a stable government whose budget is dependent almost entirely on oil. In December 2013, civil war broke out when President Salva Kiir Mayardit sacked the cabinet and accused Vice President Riek Machar of instigating a failed coup. The civil war ended in 2015—officially—but clashes persist.

The clashes have significantly reduced South Sudan’s main source of revenue—oil—and have halted operations at many of its oil fields.

Earlier this week, South Sudanese authorities reported that at least 25 people died following a clash between government forces and rebel groups in the oil-producing regions in the north of the world’s youngest country.

Last month, Assistant Secretary-General for Peacekeeping El-Ghassim Wane told the UN Security Council:

“The conflict in South Sudan is a man-made conflict for which the leaders of South Sudan bear a direct responsibility. But the same leaders can also bring the country back from the impending abyss."

Related: Can Oil Prices Hit $60 In 2018?

This month, the Security Council will consider the Secretary-General’s 90-day report on the implementation of the mandate of the UN Mission in South Sudan (UNMISS).

According to the UN, conflict has worsened in the war-torn country, in which some 6 million people—around half the population—are severely food-insecure. Around 1.89 million people are internally displaced persons (IDPs), while another 1.97 million people have fled to neighboring countries.  

By Tsvetana Paraskova 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