South Sudan's Oil Revenues Plunge as Ruptured Pipeline Stalls Exports

South Sudan is struggling to get any money in its budget as its oil exports, on which it depends for 90% of state revenues, are stalled by a ruptured pipeline in neighboring Sudan that is the only outlet for South Sudan to sell its crude. Earlier this month, Sudan declared force majeure on crude oil exports from its landlocked neighbor South Sudan, following a major rupture in the pipeline carrying crude from South Sudan to a port in Sudan in an area with active military activity.

“As all of you know, South Sudan depends on oil for 90% or more of its revenues, and the oil is not flowing from some of the fields that are so critical for South Sudan.” Due to the plummeting revenues, South Sudan hasn’t been able to pay the salaries of state workers for months. The latest conflict in Sudan erupted in April last year, when the Rapid Support Forces RSF, a paramilitary group, took up arms against the Sudanese army in the capital Khartoum.

Source: Financial Digest (financialdigest.net)

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