South Sudan has struck a deal with commodities trader BB Energy that partially lifts a London court injunction restricting the country’s ability to secure advance payments for its crude oil, offering a financial reprieve for one of Africa’s most oil-dependent economies.
The agreement follows South Sudan’s award of three crude cargoes to BB Energy as part of efforts to settle outstanding obligations under an earlier oil prepayment arrangement, according to a consent order filed at London’s High Court and a statement by the company.
The deal allows South Sudan to resume accepting advance payments for future Dar Blend and Nile Blend crude cargoes under specified conditions after BB Energy agreed to temporarily relax the injunction it secured against the government.
The injunction relief will remain in place until the end of November 2026.
“In consideration of these awards, BB Energy has agreed to relax the existing injunction restrictions that had prevented the Republic of South Sudan from accepting advance payments for crude oil cargoes,” the company said in a statement.
