South Sudan’s Oil Company Forms Joint Venture With Glencore
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South Sudan’s state oil company, Nilepet, has formed a joint venture with Glencore International Plc to market its oil, the managing director of the company said today.
The joint venture will be called Petro Nile and will be 51 percent controlled by Nilepet and 49 percent by Glencore, Mangok Khalil Mangok said by phone today from Juba, South Sudan’s capital. The company will start selling South Sudanese oil in August, he said.