South Sudan: South Sudan Earns $1.9b from Oil as Output Boost Pledged

Jun 2, 2014 | Standard Reporter and Bloomberg
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South Sudan said it earned $1.9 billion from oil sales in the 12 months through May as the country seeks to restore output lost in nearly six months of conflict.

The sale of 35.3 million barrels of crude brought total revenue of $3.5 billion, the Petroleum Ministry said in an e-mailed statement late yesterday.

Of that figure, $857 million was allocated to neighboring Sudan, which exports the oil via pipelines across its territory to a port on the Red Sea, and $788 million went to loan settlements, it said.