With independence on 9 July 2011, the Republic of South Sudan became both the newest and the most oil-dependent country in the world.
South Sudan has been blessed with oil wealth that, if managed responsibly, could provide for the long-term development and prosperity its citizens deserve. There are encouraging signs that the South Sudanese government is committed to ensuring this outcome. Indeed, the country’s emerging legal framework includes wide-ranging public reporting, contract allocation, and revenue management standards that draw from international best practice. However, implementation of these transparency and accountability measures will not be easy. It will require a concerted effort and prioritisation from across the government. It will also demand a genuine commitment to move beyond the legacy of closed-door oil sector management left by the country’s former rulers in Khartoum.
Now is the time for action.
The purpose of this report is to provide an analysis of South Sudan’s new oil legislation, the commitments that have been made to transparency and accountability, the challenges for implementation, and the institutional, reporting, and auditing gaps which remain.
Click here to read the accompanying press release.