London, United Kingdom: BB Energy has confirmed the lifting of its first cargo under renewed prepaid crude supply arrangements with the Republic of South Sudan, marking a key milestone in restoring the long-standing energy partnership between the two parties.
The shipment comprises approximately 600,000 barrels of DAR Blend crude oil and follows high-level engagements between BB Energy and South Sudan’s Ministry of Finance and Ministry of Petroleum.
Company officials described the development as a significant step toward stabilising supply flows after earlier disruptions linked to infrastructure challenges.
Following a series of meetings, BB Energy and South Sudanese authorities have jointly developed a comprehensive repayment framework and forward cargo delivery schedule.
Draft documentation is currently under review by relevant authorities in Juba. Further meetings with the Minister of Finance and the Undersecretary of the Ministry of Petroleum are scheduled to finalise a mutually acceptable agreement.
BB Energy CEO Mohamed Bassatne welcomed the progress saying “The lifting of this cargo represents an important first step and a very positive development for both BB Energy and the Republic of South Sudan. Acting under the instructions of H.E. Salva Kiir Mayardit, the Hon. Dr. Bak Barnaba Chol and the Hon. Dr. Chol Deng Thon Abel have worked tirelessly and constructively to unlock this progress.”
He added that the company is focused on concluding the comprehensive agreement covering remaining deliveries under the prepayment arrangement and restoring the strong commercial relationship built over years of engagement.
Background to the Deal
In February 2025, BB Energy entered into a prepayment arrangement for the future supply of DAR Blend crude oil from South Sudan — a financing structure commonly used in global energy markets to secure long-term supply.
However, deliveries were impacted by exceptional circumstances, notably a pipeline rupture in February 2024 that disrupted exports and placed financial strain on the oil-dependent economy.
The new cargo lifting signals a potential stabilisation of flows as both sides work toward full implementation of the revised repayment and delivery framework.
Founded by the Bassatne family in the 1960s, BB Energy operates as a leading independent global energy trading group with trading hubs in London, Brussels, Geneva, Dubai, Houston and Singapore.
In the 2024 financial year, the company generated approximately USD 23 billion in turnover and traded around 33 million tonnes of petroleum products and liquid gases annually — equivalent to roughly 650,000 barrels per day.
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