7.5 C
Alba Iulia
Thursday, June 24, 2021

Oily hopes for South Sudan

Must Read

Chinua Achebe: Why he was one of the world’s most important modern writers

Ad Achebe's greatest work involved telling distinctly African stories from the perspective of African characters and helping to forge a...

Med Beds: Extra terrestrial technology finally goes public

With planetary shift to 4th and higher dimensional life irrevocably on course, lightworkers of the Alliance have started releasing...

Peruvian Court Rules Gates, Soros and Rockefellers “Created” Coronavirus

The three judge panel of the Chicha & Pisco Criminal Appeals Chamber in Peru found that...
editors
researchers, collators, reviewers, curators

Most recent independent African nation now seeks to revive its oil production, raising hopes for a nation ravaged by terrorism and war

South Sudan seeks to revive oil production

by Hiba Morgan AL JAZEERA

The country has the third largest oil reserves in sub-Saharan Africa, but most of its oil facilities have been destroyed in the civil war that started in 2013 – two years after it seceded from Sudan.

Some of its oilfields have recently restarted oil production, but returning to full production capacity will take time and outside help.

“The field here has the capacity to produce 45,000 barrels per day and its only producing 20,000 barrels. The station wasn’t working for five years so some wells have issues such as electricity and now production here is at half capacity,” said Kuol Ajak of the operating company, Greater Pioneer Petroleum.

Currently, South Sudan produces about 150,000 barrels per day, 40 percent of which goes to cover operating costs. The government is left with 90,000 barrels, but partners such as China’s CNPC and Malaysia’s Petronas take 20 percent of it.

And even the remaining profit has to be shared with Sudan’s government in Khartoum as South Sudan has to use its infrastructure to process and transport its oil.

Every barrel produced is vital to Africa’s youngest nation, as oil provides nearly all of its gross domestic product.

“For us, it is very vital because the economy of the country, 90 percent of it, is based on oil, it can be more,” said Ezekiel Lol Gatkouth, South Sudan’s petroleum minister.

“It’s important for us to produce oil and prices of oil must continue being high because we’re a producer and also a consumer so we need to make sure that we benefit from both stabilities in the market.”

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisement -

Latest News

Global Pushback Against Tyranny Has Begun

by EraOfLight March 20, 2021, on the 1-year anniversary of the first COVID-19 lockdown, people...

Kenneth Kaunda: Zambia Shall Be Free author and nationalist leader, 1924-2021

Zambia's founding father, Kenneth Kaunda, dies at 97 By Daniel Pelz  Deutsch Welle TV When...

South African 10-baby birth may be world’s first decuplets

The news is coming after a woman from Mali had given birh to nine babies only last month in Morocco, in...

Can a United States administration ever probe CIA murders in Africa?

That foreign government intelligence agencies have routinely meddled in Africa by murdering citizens and enforcing regime changes to sustain their corrupt...

Quantum Energy Pendant: Recharge your body with the most powerful healing force on Earth

Similar to Med Beds, another Extraterrestrial age-reversing and cellular healing gift to humanity, through Nikola Tesla, father of free energy, is...
- Advertisement -

More Articles Like This

- Advertisement -
css.php