"The rupture has been restored, has been repaired, but now it has caused some gelling along the pipeline," said William Anyak Deng, an undersecretary in South Sudan’s oil ministry. Oil is a vital source of revenue for South Sudan’s government, representing 90% of its foreign exchange earnings, with Sudan taking a cut of the oil as a transit fee.
Why is oil important in South Sudan?
Oil is a vital source of revenue for South Sudan’s government, representing 90% of its foreign exchange earnings, with Sudan taking a cut of the oil as a transit fee. The Petrodar pipeline, one of two in Sudan, carries about two thirds of South Sudan’s total oil exports.
Is Africa open for investment in the palm oil sector?
The message is clear: Africa is open for investment in the palm oil sector, but will only welcome investments that comply with these principles. These apply as much to local producers as to international investors. One of Africa¡¯s challenges is that it consumes around 15% of global palm oil production, far more than it produces.
What percentage of palm oil is sustainable?
According to WWF, which surveyed 227 global palm oil buyers in 2021, only 67% of total palm oil reported by respondents is certified sustainable ¨C a figure that drops to 23% for palm oil bought by companies in Africa and Asia. What¡¯s the World Economic Forum doing about deforestation?