“We are trying to increase transparency in the country’s oil and gas sector, specifically concerning the financial aspects. The Ministry of Petroleum has produced this journal which will provide all the information about our production, sales, and even the environment. We include all the opportunities in South Sudan regarding refineries, pipelines and other facilities. All this information is now available, and everyone will have access to it.”
This statement by the Minister of Petroleum of South Sudan Engineer Awow Daniel Chuang was an encapsulation of the seventh Petroleum Report of the Ministry of Petroleum of the Republic of South Sudan which would also seek, among other things, detailed report on world oil markets and fundamentals, price forecasts, oilfield reserves, and the ministry’s marketing performance. A statement by the ministry says it will form part of continued efforts by the Engineer Awow Daniel Chuang to promote openness and accountability in this crucial sector,
The report also outlined the ministry’s infrastructure plans, including refineries and storage depots and providing as well insight into how the country has advanced its sales of crude oil on the open market, all of which would help as South Sudan recognizes the need to develop the sector with buyer and market diversification thereby enhancing a better understanding of global economics and pricing analysis. The report also said the ministry would aim to establish on-line communications with global oil markets and the main world crude oil pricing center.
The release of the report which follows closely the announcement of the country’s first environmental audit of all operating oilfields would be seen to assist in the rehabilitation efforts as well as prevent future problems. The ministry’s exploration and production department according to the report will equally engage in promoting new blocks ready for international investors looking for lucrative opportunities.
This, and future Marketing Reports are intended to provide comprehensive information which clearly explains the monetization of South Sudan’ crude oil, emphasizing transparency and full compliance with the country’s legislative requirements for information disclosure.
