South Sudan Shakes Up Oil Sector

South Sudan Friday issued the biggest revision of its oil-exploration rights yet, seizing a giant license area long held by Total SA TOT +1.58% and slicing it into three as the newly independent nation attempts to hasten crude production and secure much-needed revenue.

The move is South Sudan”s latest attempt to remove itself from oil deals signed before its secession from Sudan. It comes amid renewed tensions with its northern neighbor over who should control the oil-rich regions that straddle their border.

South Sudan Shakes Up Oil Sector

© 2013 Energy Tribune

Scroll to top