Tue, 11 May 2021 Today's Paper

S. Africa plans US$1bn investment in S. Sudan oil industry

24 November 2018 12:00 am - 0     - {{hitsCtrl.values.hits}}

A A A

JUBA (AFP) - South Africa and South Sudan signed an outline agreement yesterday that could see Pretoria invest around US$1 billion (880 million euros) in South Sudan’s struggling oil industry.


The agreement, which will be subject to detailed negotiations between the countries, was made between two state-owned companies, South Africa’s Central Energy Fund and South Sudan’s Nile Petroleum Corporation.


South Sudan’s oil minister Ezekiel Lol Gatkuoth said the investment will go into building a refinery and pipelines as well as oil exploration and training of workers and engineers.


South Sudan currently produces around 155,000 barrels per day, less than half of what production was at the start of the latest civil war in December 2013.
The country does not have its own refinery, so it currently sends crude by pipeline across the northern border to Sudan for processing and export, and imports refined fuels.


“When this refinery is complete it will have a capacity of producing 60,000 barrels of oil per day,” said South Africa’s energy minister Jeff Radebe.
“The whole project, the block exploration together with the refinery, the pipelines, we are looking an investment of more than one billion US dollars,” he said.
The agreement between the two countries comes a day after South Sudan hosted a three-day oil and power conference in Juba aimed at attracting investors.
The country’s warring parties in September signed a new peace deal to end five years of civil war that has killed an estimated 380,000 people and crippled the oil industry, which funded about 98 percent of its budget.

See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.

  Comments - 0

See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.

 

 

Add comment

Comments will be edited (grammar, spelling and slang) and authorized at the discretion of Daily Mirror online. The website also has the right not to publish selected comments.

Reply To:

Name - Reply Comment




New Year COVID wave: Did MOH and Government cause a delay in predicting B.1.1.7?

The daily number of cases testing positive for COVID-19 in Sri Lanka is neari

Lester James Peries the Emancipator of Sinhala Cinema

Renowned Sri Lankan Film Maker Lester James Peries passed away three years ag

Emergency berthing of M.V BBC Naples at Hambantota Port: SL Atomic Energy Act violated

Even though Sri Lankan waters appear to be calm, geopolitically speaking, the

“We are just giving it away for Yuan” SLPP Parliamentarian Wijeyadasa Rajapakshe

The basic idea is to safeguard the nation. We are doing politics not for our

See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.