South Sudan has faced chronic instability since 2011 independence. Output and exports are down again this year amid renewed violence, whilst low oil prices have raised the share paid to IOCs, and to Sudan in transit payments.

South Sudan’s oil sales fell to a three-year low of just 100,000 b/d in September amid ongoing political uncertainty and insecurity.

Output, which was running at 350,000 b/d at independence in July 2011, averaged just 169,000 b/d in 2014 and 148,000 b/d in...