South Sudan President Reappoints Former MD to Run Oil Company
(Bloomberg) -- South Sudan President Salva Kiir has reappointed Chol Deng Thon Abel as managing director of Nile Petroleum Corp., about a year after he was fired from the state oil company.
Abel was appointed in a decree read on state television on Friday evening. He was sacked in September 2020 and replaced by Bol Ring Muorwel, who himself was fired by Kiir earlier this month.
South Sudan, which has sub-Saharan Africa’s third-largest oil reserves, opened its first oil licensing round for five blocks in July. Oil production, the country’s main source of revenue, has dropped because of civil war and as existing wells peak. It’s currently pumping about 156,000 barrels a day.
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