South Sudan grossed nearly $3.4 billion in oil revenue in 2014, but retained only $1.7 billion after making payments to Sudan and loan repayments, according to the Ministry of Petroleum.
The country took a hit when it was forced to shut down oil fields in Unity State in early 2014 following fighting in the area. The fields have not been restarted, though Minister Stephen Dhieu Dau said he is hopeful they will “begin again in the new year.”
Fields in Upper Nile state are still operating at 160,000 barrels per day, well below their normal production.
South Sudan’s revenue was also hit by plummeting international oil prices. As a result, Dau said Juba is looking to reopen discussions with Khartoum about payments the country must make for using Sudan’s pipeline. Juba paid Khartoum $884 million in 2014 in transit fees.
The ministry also plans to start renegotiating contracts with some of the companies operating in South Sudan.