Saturday May 18, 2013




Landlocked South Sudan says it has reached a deal with Sudan over oil exportation


In this April 24, 2012 photo, a Sudanese worker inspects burnt out oil pipes at the oil-rich border town of Heglig, Sudan. THE CANADIAN PRESS/AP, Abd Raouf

ADDIS ABABA, Ethiopia - Landlocked South Sudan says it has a struck a deal with Sudan over the exportation of oil through Sudan's pipelines.

In a statement Saturday South Sudan's government said that it will pay approximately $9.48 a barrel to transport its fuel through Sudan's pipelines.

South Sudan says the agreement on pipeline transportation fees will last for three and a half years after which the countries may negotiate lower rates or South Sudan, which expects to have constructed a pipeline through Kenya, will stop using Sudan's pipeline.

A row over the sharing of the two countries' once-unified oil industry prompted South Sudan to shut down its oil production. Oil also sparked a dangerous military confrontation between the two sides in April, when South Sudan captured the disputed town of Heglig, which is responsible for more than half of Sudan's oil production.






Quick Vote

Survey results are meant for general information only, and are not based on recognised statistical methods.


Markets





LOG IN



Lost your password?