{{A total of $3.5 billion was realised by South Sudan from its crude oil sales between June 2013 and May this year, the country\u2019s petroleum and mining ministry announced.}}<\/p>\n
A statement signed by petroleum minister, Stephen Dhieu Dau, said only half of the revenues generated reached the new nation\u2019s coffers after payments of load and proceeds to the Sudanese government, as pipeline charges, were made.<\/p>\n
\u201cThe net amount realized by the Government of the Republic of South Sudan after payments or settlement of loan is $ 1,887 million (only one billion eight hundred eighty seven million US Dollars),\u201d partly reads the statement.<\/p>\n
“Proceeds to Sudan amounts to US $857 million and loan settlements took $788 million” it adds.<\/p>\n
SLUMP IN OIL PRODUCTION<\/p>\n
South Sudan\u2019s government admitted on Sunday that ongoing conflict has affected the country\u2019s oil production, which now stands at just 165,000 barrels per day.<\/p>\n
Petroleum minister Dau, told Sudan Tribune that the country had continued to receive revenues from the oil produced in Upper Nile state, where production rate is reportedly on the decline since no additional explorations takes place in the area.<\/p>\n
\u201cThe oil production is continuing in Upper Nile. The current output is not bad, but there is a drop. At the moment the level of output stands at 165,000 barrel per day from 245,000 barrels per day before the current crisis erupted last year”, said Dau.<\/p>\n
“This [oil] is produced in Paloch”, he further added.<\/p>\n
The minister, however, commended government troops for providing protection and defense to the country\u2019s only remaining oil wells, despite several attempts by rebels to control it.<\/p>\n
\u201cThere is no problem around production area at the moment. There is enough production by the SPLA [Sudan People\u2019s Liberation Army] forces to the oil workers. They are secured\u201d, said minister Dau.<\/p>\n
“The army in the area are doing [a] commendable job in defend of the country, its constitution and the resources of the people\u201d, he stressed.<\/p>\n
Prior to South Sudan\u2019s July 2011 secession from Khartoum, oil production generated millions of dollars and accounted for at least 98 percent of the young nation\u2019s budget.<\/p>\n
Till now, however, South Sudan\u2019s oil is exported through Sudanese pipelines and this generates revenues, which are economically significant for the Khartoum government.<\/p>\n
{sudantribune}<\/p>\n","protected":false},"excerpt":{"rendered":"
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