London court halts South Sudan oil prepayment contracts
A London court has barred South Sudan from entering new oil prepayment deals until it settles outstanding debts with BB Energy. The ruling follows legal action over failed crude deliveries and warns third parties against assisting in any breaches.
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South Sudan must halt new oil prepayment contracts until it repays debts to BB Energy, following a London High Court ruling on Friday afternoon. The injunction targets failed deliveries of Dar Blend and Nile Blend crude oil scheduled for 2024 and 2025. The ruling restricts the nation's ability to access immediate liquidity through oil sales.
