Sudan¡¯s oil sector suffers from years of underinvestment. The sector¡¯s productive capacity could be boosted with the introduction of improved technology, staff capacity building, and modernization of existing physical plants.
Is South Sudan oil dependent?
[ 13 ] The economy of South Sudan is $3.681 billion by gross domestic product as of 2019, being one of the most oil dependent economies in the world, with 98% of government’s annual operating budget and 80% of its gross domestic product (GDP) derived from oil, [ 14 ] despite being endowed with adequate natural resources.
How much money does South Sudan spend on oil?
Oil revenues constitute more than 98% of the government of South Sudan’s budget according to the southern government’s Ministry of Finance and Economic Planning, and this has amounted to more than $8 billion in revenue since the signing of the peace agreement. [ 19 ]
How much oil does Sudan produce a day?
In 2021, its oil fields produced 59,000 barrels per day (bpd). The Sudan Oil Refinery has the capacity to refine 90-95,000 bpd. The Sudanese government also receives an in-kind royalty payment of 14,000 bpd from the government of South Sudan for oil pipeline transit rights to Port Sudan. Sudan¡¯s oil sector suffers from years of underinvestment.