South Sudan: South Sudan Oil Revenue at $3.38 Bln, Hit by Conflict and Price Falls

Jan 3, 2015 | Reuters
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South Sudan's oil revenue last year was hit by reduced output because of conflict in the African republic and the rapid decline in oil prices, petroleum minister Stephen Dhieu Dau said in a statement seen by Reuters on Saturday.

Oil is the main source of cash for South Sudan, but total oil income was $3.38 billion last year from the sale of 36.6 million barrels as output was hit by the fighting that began in December 2013 in the wake of a power struggle between President Salva Kiir and former Vice President Riek Machar.

Thousands of people have been killed and more than a million have fled their homes during the conflict, which also resulted in damage to some of the country's oil fields while production at others was hit by a lack of spare parts.