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Slightly different take though it is 3 day demand and wants a share of the oil revenue or halts payments to the Sudan Govt.
JUBA, June 19, 2023 – South Sudan refrained from commenting on reports that the Sudanese paramilitary Rapid Support Force (RSF) issued a three-day ultimatum to shut down oil pipelines in the militia-controlled areas unless South Sudan shares oil revenues or halts payment of transit fees to the military-led government.
Mayen Wol Jong, Sudan’s undersecretary of the Ministry of Petroleum, stated to Sudan Tribune on Monday that oil continues to flow to international markets, with Sudan being the guarantor and protector of all oil infrastructure passing through its territory.
“As of now, the oil is continuing to flow. There are no disruptions,” said Jong in response to media reports.
He declined to provide further comments regarding the RSF’s conditions for the oil to continue flowing through Sudanese territory. None of the parties involved have officially confirmed these reports. However, officials familiar with the situation informed Sudan Tribune last week that RSF representatives have been pressuring for a share of the rental and transit fees.
Lual Achuek Deng, a member of parliament from South Sudan, expressed concerns on Saturday about the ongoing conflict in Sudan, fearing it could negatively impact oil revenue generation. Deng, a former Sudanese Minister of Petroleum prior to secession in 2011, shared his views with United Nations-sponsored Radio Miraya during a discussion on the annual budget. He suggested that the conflict in Sudan might have contributed to the delay in presenting the budget to parliament.
Observers and economic analysts have voiced concerns over the potential risks to South Sudan’s economy and budget, as the conflict between the RSF and the Sudanese armed forces puts its oil, the mainstay of the economy, at risk.
The RSF has demanded that South Sudan either stop funding the sovereign council’s military leadership or share resources, or the pipeline infrastructure will be shut down.
This presents a critical dilemma for South Sudan, with fears that the RSF may disrupt the oil flow if their demands are not addressed in time. Compliance could lead to retaliation from the Sudanese armed forces, potentially preventing South Sudan’s oil export through Port Sudan and crippling the nation’s economy. Conversely, if South Sudan continues to provide funds, the RSF threatens to shut down the pumping station at Heglig, obstructing the oil flow to the port of Sudan.
The RSF controls the pumping stations at Heglig of South Kordofan, while the Sudanese armed forces oversee the transport routes to the port of Sudan, where the oil is loaded onto cargo ships for international sale. The consequences of a shutdown would be enormous, affecting the government’s ability to function and provide essential services to the people.
https://sudantribune.com/article274555/
Https://www.zawya.com/en/press-release/africa-press-releases/nilepet-to-become-an-energy-operator-by-2027-says-director-general-dg-during-south-sudan-oil-and-power-ssop-hsniitax
This was the session in which Andrew participated, I believe.
Https://www.reuters.com/article/southsudan-oil-idUSL4N3873UU
The Ministry of Petroleum South Sudan facebook page has a post about Andrew's presentation. Very brief write up says he highlights two main problems for the country
- problem of power access with most areas outside of Juba struggling
-declining oil production due to low investment.
"What this country needs more desperately is foreign investment and it is very important to devlop a very strong private sector".
No mention of socks. Saving that post for tomorrow.
Good lord Masoko, he is not wearing any socks in that photo! Maybe he spent every penny on his SAVE holding.
Hopefully there is enough left in the kitty to put out an RNS!
Updated to include him presenting.
https://www.flickr.com/photos/energycapitalpower/52979170165/
Thanks MasokoTanga - here are the direct links to photos that AK features in on Day 1
https://www.flickr.com/photos/energycapitalpower/52978695593/in/album-72177720309107273/
https://www.flickr.com/photos/energycapitalpower/52978695128/in/album-72177720309107273/
https://www.flickr.com/photos/energycapitalpower/52978243791/in/album-72177720309107273/
https://www.flickr.com/photos/energycapitalpower/52978244176/in/album-72177720309107273/
Love his dress sense. Straight from the poolside barbecue. Was gonna say beach but it’s inland.
Bring it on Mr. CEO, SS deal done announcement soon.
Some photos on the conference's Flickr page show AK at the gala opening.
https://www.flickr.com/photos/energycapitalpower/
There was even talk that if we expand our footprint in Nigeria with another big acquisition there that we may also look at listing on the Nigerian stock exchange.
Absolutely only relist with SS firmly in our bag. Otherwise share price won’t be pretty.
Please management takes this on board. I’m sure you’re reading. Thank you team@SAVE for your hard work. Probably harder than expected.
Great posters here indeed, much appreciated.
And agree that its very important that this comes back out of suspension with a big deal already signed sealed and delivered.
My instinct is this will, one way or other, remain suspended for a few more months yet eg September ish re listing (still q3 but very end ish) and that's absolutely fine by me
Ps: If this re listed next week I'd guess it would fall sharply/promptly.. AK needs to get a big deal FULLY over the line in coming months.. and then re list off the back of this.. please
Please bear in mind the list is not exhaustive and there still many that we have placed bids on from other independent companies as well as assets from governments such as NNPC. Far too many to cover all..........................
So good to have some very seasoned investors here, Zengas, MT, Trust, Zone and many more.. to share their findings. Otherwise the stress is intolerable. 6+ months with not much news. The best retail investor base here. Thank you so much!
Savannah Energy Plc strategy is placing bids on many assets as possible and then liaising with the governments to see whether they would be supportive of the deals if they progressed towards SPA. Example Chad was supportive but than the president at the time died and things changed, otherwise they would not have struck a deal and walked away. South Sudan deal again they have received government acknowledgment in private so they struck the SPA with Petronas, otherwise they wouldn’t. Savannah Energy only proceeds towards SPA once the bids are accepted by the seller and once they have received a positive dialogue from the host countries governments. An example of a deal that they paused prior to an SPA was ENI Tunisia deal price was agreed with the seller but the conversations with government were not well received so they didn’t progress with SPA. All deals Savannah Energy strikes an SPA for have prior government dialogue even if formal approval cant be granted in theory.
List of assets Savannah Energy has looked for don’t have details around the exact financial terms of the bids or if official bids were made or whether they would purchase entire portfolio or bits of it:
1) Exxon Assets in Nigeria circa -$1bn - $1.2bn
2) ENI assets in Nigeria and Angola – circa $2.4bn
3) Shell onshore assets in Nigeria – circa $2.5 - $3bn
4) Shell upstream assets in Gabon, Cameroon, and equatorial guinea – circa $2.4bn
5) Senegal / Mauritania GTA LNG Project - Current Project partners are looking to bring in an additional partner
6) Mozambique LNG Project - Looking for partners with strong financial backing......
For whatever reason not all the posts are showing here… that explains the cross posting.
Cross posts with trust again! Thank you for the tweet.
That's an encouraging tweet, TIL. Thanks for sharing it.
‘Andrew Knott was also due to be part of a panel in yesterdays session but i don't think he participated’
That doesn’t sound too good? Maybe he’s too busy sorting out the SS deal.
Is Andrew anywhere to be seen in this conference?
Hopefully Andrew Speaking at the event is a good sign that the deal is still intact ;) Official from Twitter Ministry of Petroleum South Sudan.
https://twitter.com/mop_ssd/status/1669625089178968064
Don't think it has anything to do with Chad to be honest, the nature of doing deals in Africa is that the timelines always move. Andrew Knott was also due to be part of a panel in yesterdays session but i don't think he participated. Let's hope things are still in order and that South Sudan deal leads to completion. Whatever happens Andrew has to release an admission document with a significant deal of similar size to south sudan with all government approvals to hand. Whether it's the south sudan deal or another deal or even both remains to be seen. As I feel if he doesn't he is running out of suspension windows otherwise so wouldn't surprise me if we extend suspension beyond July 2023 as well, cause he knows this is probably the last suspension the company will be allowed
Yes, I suspect we were probably scheduled for that session too cyb. Not sure how much political influence Chad has over SS, but it certainly seems have to have some influence over Cameroon. Guess there's not much we can do till end of July other than go for a swim or watch the cricket. The latter for me :-)
Interesting to see Savannah Energy being sponsors of Africa Energy Forum in Nairobi next week. With Julian Horn Head of Savannah Renewables as a guest speaker as well. Could we have a renewable project lined up in Kenya, perhaps Kenya, would love it if that was the case.
Sponsors - https://www.africa-energy-forum.com/pages/sponsors-2023
Speakers - https://www.africa-energy-forum.com/pages/speakers
Thanks, komakino.
I suspect we were scheduled for that session too, but something has stalled matters. I wonder if someone has sown a thought with SSGov that we aren't well-enough established. I don't believe the timing of the "freezing" of the COTCo 10% sale was coincidental either. Basically, I think Chad is doing everything in its power to shaft us.
Paranoia perhaps. Oh well, fellow jilted bridegrooms,
I'm going for a swim.