South Sudan said announced that it has made a small oil discovery in Northern Upper Nile State. This is the first time the country is making any form of oil discovery since independence in 2011. War and instability has largely affected exploration activities in the small country. The country’s oil minister, Awow Daniel Chuang said on Thursday that the new field is located in the Adar area of Northern Upper Nile State. The field according to Awow Daniel Chuang, contains 5.3 million barrels of recoverable oil and will be linked…Read More
It was some seven years ago that UK-based oil exploration firm Tullow Oil Plc ($TUWOY) first discovered promising reserves in the land-locked East-African nation of Uganada.
Indeed, the company’s discoveries in Uganda, as well as in the neighboring Democratic Republic of Congo, had caught the attention of a number of major companies, such as Royal Dutch Shell ($RDS.A), France’s Total SA (TOT) , and China’s CNOOC Ltd. (CEO) .