• 2 days Iraq Begins To Rebuild Largest Refinery
  • 3 days Canadian Producers Struggle To Find Transport Oil Cargo
  • 3 days Venezuela’s PDVSA Makes $539M Interest Payments On Bonds
  • 3 days China's CNPC Considers Taking Over South Pars Gas Field
  • 3 days BP To Invest $200 Million In Solar
  • 3 days Tesla Opens New Showroom In NYC
  • 3 days Petrobras CEO Hints At New Partner In Oil-Rich Campos Basin
  • 3 days Venezuela Sells Oil Refinery Stake To Cuba
  • 3 days Tesla Is “Headed For A Brick Wall”
  • 3 days Norwegian Pension Fund Set to Divest From Oil Sands and Coal Ventures
  • 4 days IEA: “2018 Might Not Be Quite So Happy For OPEC Producers”
  • 4 days Goldman Bullish On Oil Markets
  • 4 days OPEC Member Nigeria To Issue Africa’s First Sovereign Green Bond
  • 4 days Nigeria To Spend $1B Of Oil Money Fighting Boko Haram
  • 4 days Syria Aims To Begin Offshore Gas Exploration In 2019
  • 4 days Australian Watchdog Blocks BP Fuel Station Acquisition
  • 4 days Colombia Boosts Oil & Gas Investment
  • 4 days Environmentalists Rev Up Anti-Keystone XL Angst Amongst Landowners
  • 5 days Venezuelan Default Swap Bonds At 19.25 Cents On The Dollar
  • 5 days Aramco On The Hunt For IPO Global Coordinators
  • 5 days ADNOC Distribution Jumps 16% At Market Debut In UAE
  • 5 days India Feels the Pinch As Oil Prices Rise
  • 5 days Aramco Announces $40 Billion Investment Program
  • 5 days Top Insurer Axa To Exit Oil Sands
  • 6 days API Reports Huge Crude Draw
  • 6 days Venezuela “Can’t Even Write A Check For $21.5M Dollars.”
  • 6 days EIA Lowers 2018 Oil Demand Growth Estimates By 40,000 Bpd
  • 6 days Trump Set To Open Atlantic Coast To Oil, Gas Drilling
  • 6 days Norway’s Oil And Gas Investment To Drop For Fourth Consecutive Year
  • 6 days Saudis Plan To Hike Gasoline Prices By 80% In January
  • 6 days Exxon To Start Reporting On Climate Change Effect
  • 6 days US Geological Survey To Reevaluate Bakken Oil Reserves
  • 7 days Brazil Cuts Local Content Requirements to Attract Oil Investors
  • 7 days Forties Pipeline Could Remain Shuttered For Weeks
  • 7 days Desjardins Ends Energy Loan Moratorium
  • 7 days ADNOC Distribution IPO Valuation Could Be Lesson For Aramco
  • 7 days Russia May Turn To Cryptocurrencies For Oil Trade
  • 7 days Iraq-Iran Oil Swap Deal To Run For 1 Year
  • 9 days Venezuelan Crude Exports To U.S. Fall To 15-year Lows
  • 9 days Mexico Blames Brazil For Failing Auction

Breaking News:

Iraq Begins To Rebuild Largest Refinery

The Five Mining Companies To Watch In 2018

The Five Mining Companies To Watch In 2018

The future of mining has…

EIA Reports Major Draw In Crude Inventories

EIA Reports Major Draw In Crude Inventories

Adding to bullish news of…

Sudan, South Sudan Sign Deal To Boost Oil Output

South Sudan

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

Oilprice - The No. 1 Source for Oil & Energy News