Trading house BB Energy has lifted its first shipment of crude oil under a renewed prepayment arrangement with South Sudan, the company said Saturday.
The cargo, about 600,000 barrels of DAR Blend crude, follows high-level talks with South Sudan’s Ministry of Finance and Ministry of Petroleum aimed at stabilizing the long-standing energy partnership.
BB Energy and South Sudanese officials have agreed on a repayment framework and a forward delivery schedule. Draft documentation is under review, and further meetings are planned in Juba to finalize the agreement, the company said.
Mohamed Bassatne, BB Energy’s chief executive, called the lifting “an important first step” and thanked South Sudanese authorities for their cooperation. He said the company hopes to conclude a comprehensive agreement covering future deliveries soon.
BB Energy entered the prepayment deal in February 2025. Deliveries were previously delayed by exceptional circumstances, including a pipeline rupture in February 2024 that disrupted supply and caused financial strain on the South Sudanese government, the company said.
In June 2025, BB Energy filed a case against South Sudan in London for failing to deliver oil owed under the prepayment deal. At the time, a company spokesperson said legal action was necessary to protect BB Energy’s contractual rights.
In November 2025, London’s High Court lifted an injunction that had blocked the sale of a South Sudanese crude oil cargo after BB Energy chose not to seek an extension. The injunction had halted the sale of a 600,000-barrel cargo of Nile Blend crude.
The injunction was lifted after BB Energy reached an agreement with rival trading firms Euro American and Meridian Energy Pte Ltd, which had purchased the disputed cargo.
When asked by Radio Tamazuj on Monday about its legal case with the South Sudanese government, BB Energy said: “Given the positive engagement and tangible progress made with the authorities over the past three months, the court case remains suspended and is expected to be definitively closed as soon as a final agreement is reached on all matters.”
Officials at South Sudan’s Ministry of Petroleum could not be reached immediately for comment.
Founded in the 1960s by the Bassatne family, BB Energy operates trading hubs in London, Brussels, Geneva, Dubai, Houston and Singapore, employing more than 420 staff. In 2024, the company reported a turnover of about $23 billion, trading roughly 33 million tonnes of petroleum products and liquid gases, equivalent to 650,000 barrels per day.