Browsing: Bank of South Sudan

With over 5 billion barrels of proven oil reserves (as of 2016) that should be the story of Sudan, a story of wealth, not poverty, a story of prominence, not conflict, but the opposite is true.

Even though Sudan ranks an impressive 23rd in the world’s list of oil rich countries and accounts for about 0.3% of the world’s total oil reserves, the country continues to squirm in abject poverty.

 “The oil story in Sudan is one of controversy, a messy tale of money, conflict and power enmeshed in the country’s decades-long conflict,” writes Elzahra Jadallah in an article titled ‘The Dark Side of Sudan’s Oil.’

There are at least five major oil drilling and processing sites in the country and these are the epicentres of conflict both within Sudan and the seceded South Sudan. Since Sudan controls the only pipeline that both nations use to transport their oil, the two sides are forced into shaky negotiations.