South Sudan’s Ministry of Petroleum has released a report providing detailed financial information and statistics of the country’s oil sector
The report forms part of continued efforts by 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 recognises 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 centre, 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.
