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    market news

    South Sudan Shuts Oil Production of 350,000 Barrels of Oil Per Day

    Investing News Network
    Jan. 23, 2012 12:29PM PST
    Oil and Gas Investing

    Reuters reported that South Sudan has shut down oil production and has accused Sudan of seizing $815 million worth of crude.

    Reuters reported that South Sudan has shut down oil production and has accused Sudan of seizing $815 million worth of crude.

    As quoted in the market news:

    South Sudan’s President Salva Kiir accused Khartoum of having “looted” revenues amounting to roughly $815 million and building a tie-in pipeline to divert 120,000 barrels per day of southern production flowing through the north.

    Click here to read the full Reuters report.

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