President Kiir meets an American Oil Company
WORLD NEWS
The leadership of Caltech Trading Corporation led by its COO, Mohammed Malique, met with President Salva Kiir Mayardit in New York last Friday, marking the official entrance of the American company into the South Sudan's oil sector.
South Sudan government has finalized a $3 billion deal with an American Oil company, Caltech Trading Corporation, to invest in the oil sector in South Sudan.
Caltech will partner with the government of South Sudan to purchase and take over the shares of the Malaysian State-own company, PETRONAS, which is now withdrawing from South Sudan's oil sector. The leadership of Caltech Trading Corporation led by its COO, Mohammed Malique, met with President Salva Kiir Mayardit in New York last Friday, marking the official entrance of the American company into the South Sudan's oil sector. South Sudan's Minister of Finance and Planning Dr. Barnaba Bak Chol says the $3 billion agreement will give an opportunity for South Sudan to grow its oil sector. Bak said $1.2 billion will be invested in the oil sector, while the rest will go for other vital infrastructure such as roads.