South Sudan Asks Crude Producers for $2.5 Billion Pre-Payment

South Sudan is asking crude producers for a total pre-payment of $2.5 billion, which it intends to refund through future production that would have been entitled to Petroliam Nasional Bhd.

In separate letters sent in October to ONGC Nile Ganga BV and a unit of China National Petroleum Corp. and seen by Bloomberg, the petroleum ministry asked for $1 billion and $1.5 billion respectively to be repaid in 54 months.