Some five months after first hatching the idea, South Sudan is once again making noises about a possible shake up of its oil concessions. Speaking earlier this month, an official from South Sudan’s finance ministry said the country was hoping to sell a number of unexplored oil blocks for up to $1bn over the coming months in an attempt to give the country’s oil starved economy a much needed shot in the arm.
The Southern Sudanese economy was dealt a huge blow following the government’s January 2012 decision to shut down the country’s oil production which till that point was bringing in around $400mn per month, representing 98% of government revenues. (CONTINUED - 1116 WORDS)
