South Sudan has fallen behind in oil transit payments to Sudan, which in turn is taking additional oil in lieu of payment, further decimating the South’s revenues.South Sudan’s crude oil earnings continue to fall in the midst of a conflict that is decimating production and absorbing all its remaining income. The latest lifting schedule for the country’s Dar Blend crude, for shipment in September, suggests that oil output has fallen by one fifth since mid-year, although the government denies this.
What is certainly true is that lower crude prices, lower output, and onerous transit payments to Sudan are leaving the treasury with precious little with which to fund its budget. (CONTINUED - 1091 WORDS)
