MINISTRY OF PETROLEUM RELEASES ANNUAL REPORT
PETROLEUM REPORT PROVIDES DETAILED FINANCIAL INFORMATION AND
STATISTICS FROM THE SOUTH SUDAN OIL SECTOR
Juba, South
Sudan, February 20, 2020 – The seventh Petroleum
Report issued by the Ministry of Petroleum, Republic of South Sudan, provides
an overview of world oil markets and fundamentals, price forecasts, oilfield
reserves, and the ministry’s marketing performance. It forms part of continued
efforts by Hon. Eng. Awow Daniel Chuang, the Minister of
Petroleum, to promote openness and accountability in this crucial sector, “We are trying to increase transparency in the
country’s oil and gas sector, specifically concerning the financial aspects.
The Ministry of Petroleum has produced this journal which will provide all the
information about our production, sales, and even the environment. We include
all the opportunities in South Sudan regarding refineries, pipelines and other
facilities. All this information is now available, and everyone will have
access to it.”
The report outlines the ministry’s infrastructure
plans, including refineries and storage depots and provides insight into how the
country has advanced its sales of crude oil on the open market. South Sudan
recognizes that the sector needs to continue to develop with buyer and market
diversification, and a better understanding of global economics and pricing
analysis. The ministry is aiming to establish on-line communications with
global oil markets and the main world crude oil pricing center, Platts in
London.
The release of the report follows closely the announcement of the country’s first
environmental audit of all operating oilfields. This will assist in
rehabilitation efforts and prevent future problems. The ministry’s exploration
and production department is at the same time engaged in promoting new blocks
ready for international investors looking for lucrative opportunities.
The aim of this one, and future Marketing Reports is to provide comprehensive
information which clearly explains the monetization of South Sudan’ crude oil. The
emphasis is on transparency and full compliance with the country’s legislative
requirements for information disclosure.
The Petroleum Ministry has also improved its website, http://www.mop-rss.org/ which contains detailed information about the current
oil-producing blocks, as well as the day to day operation of the department.
All the information that investors may need is now available, including all the
financial information dating from 2011, the country’s independence.
Issued by AZ Media PR
Contact: Claudia Padayachy (South Africa)
Tel: +27 84 884 4317
Email: claudia@azmediacommunications.com