SOUTH AFRICA INVESTS IN SOUTH SUDAN


South Africa invests $1 billion in South Sudan's oil sector
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  • Written by:

    Dan Mwangi

    dan@mtkenyatimes.co.ke
    Made up of the 10 southern-most states of Sudan, South Sudan is one of the most diverse countries in Africa. So when South Africa decided it would invest 1 billion dollars into its oil sector this cast the light into one of Africa’s biggest sleeping giants. South Sudan is home to over 60 different major ethnic groups. For the troubled nation Independence did not bring conflict in South Sudan to an end. Civil war broke out in 2013 when the president fell out with his then vice president, leading to a conflict that has displaced some 4 million people.
    A power-sharing agreement was signed between the warring parties in August 2018 in a bid to bring the five-year civil war to an end. As for its investing partner, currently South Africa produces 5% of its fuel needs from gas, 35% from coal and 50% from local crude oil refineries. The most recent statistics show that nearly 80% of South Africa’s crude oil is imported through the single buoy mooring (SBM) system off the coast of Durban. Shell (26%), Engen (26%), BP (26%), Sasol Oil (16%) and Total (6%) own the SBM, which is managed and operated by SAPREF, the country’s largest oil refinery. Statistics show that domestic downstream refined product market has seen a gradual shift from being a net export market to a net import market in the last 15 years with approximately 8 billion litres a year being imported.
    SA is a country encompassing a wide variety of cultures, languages, and religions. Its pluralistic makeup is reflected in the constitution’s recognition of 11 official languages, which is the fourth highest number in the world. South Africa’s Minister of Energy Jeff Radebe with his counterpart……Subscribe to Readmore………

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