South Sudan President sacks head of state-oil company
September 7, 2017 (JUBA) – South Sudan President Salva Kiir has sacked the head of the state-owned oil company (Nilepet), James Thelweng and replaced him with a new managing director.
Although no reasons were given for the president’s decision, the changes follow the scarcity of fuel in the country amid rising prices.
A holder of a master’s degree in Banking and Finance from an Australian University, the former Nilepet boss previously served as relations manager of the CFC Stanbic Bank.
Nilepet is a company managed by the government with a mandate to oversee oil exploration, production and marketing in South Sudan.
Since its independence, South Sudan has relied on oil for all income, a situation that has significantly compounded ongoing political and economic instability due to the fall in crude oil prices.
(ST)