South Sudan: South Sudan Renews Oil Deals with China, Malaysia

Jan 6, 2017 | Parach Mach, Anadolu Agency
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South Sudan signed an agreement on Friday to renew all oil drilling contracts with China National Petroleum Corporation (CNPC) and Malaysia's Petroliam Nasional Berhad (PETRONAS) for another five years. The world’s newest country is estimated to have Sub Saharan Africa’s third-biggest crude reserves. The renewal defines the legal and tax system governing oil companies, operating licenses and crude oil transportation installations among several things.