Word: oil
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Already, PetroChina/CNPC is the largest player in the Sudanese oil industry, but in the past few months, the company’s presence in the East African nation has expanded markedly. In June, PetroChina/CNPC signed a 20-year deal to develop Sudan’s offshore oil production—a project that will open up a new stream of revenue for the Sudanese government, which spends 70 percent of its oil earnings on the country’s armed forces. According to a 2005 Harvard report, oil exports are “a crucial source of revenue...
...major oil company is shelling out money for programs at the Kennedy School of Government. A division of Royal Dutch Shell, the world’s second-largest publicly traded oil company, will donate $3.75 million over the next five years to fund energy policy research across the University, the school announced this week. William W. Hogan, the research director of the Harvard Electric Policy Group and an architect of the agreement, said the school has yet to decide precisely how the money will be allocated. “We’re in the process of forming a faculty...
...infamously mired in civil conflict in its western region of Darfur. But for nearly two years now, the country's 10 southern provinces have begun to emerge from their own 20-year war with the central government in Khartoum that left the territory physically ravaged but in possession of oil, minerals, wildlife and forests. With its capital in the city of Juba, south Sudan, a semi-autonomous region with 6 million residents, now has an annual budget of $1.2 billion and is in possession of most of Sudan's oil reserves. Foreign investors are clamoring to get in. But oil...
...fighting between the former rebel Sudan People's Liberation Movement in the south and the government in Khartoum. A coalition government was created and south Sudan was given the option to hold a referendum on independence in 2011. The south Sudanese government was also to receive half of all oil revenues from Sudan's oil (last year, the country exported $6 billion worth of oil). Yet unresolved issues with the peace deal, including oil sharing, deployment of northern troops in southern oilfields and the demarcation of the north-south border, are dangerously straining ties between Juba and Khartoum...
...issue is lack of transparency in the oil sector," says South Sudan's Information Minister Samson Kwaje. Kwaje says that the government of south Sudan feels it is being "cheated" by Khartoum due to its lack of representation in both the energy and finance ministries. South Sudanese officials say that they are not involved in either the production or marketing of the oil, much less the calculation of how much their share of the petroleum pie should be. (Oil accounts for 95% of Juba's income.) Equally problematic is the ownership of Abyei, an oil-rich region caught between...