S Sudan says 22m barrels of oil sold

2011-10-06 13:38

kalahari.com

Juba - South Sudan has sold 22 million barrels of oil to international buyers through the north's Port Sudan export terminal since independence, at an estimated value of $2.14bn, the oil ministry said.

The announcement, made late on Wednesday, comes in spite of a bitter unresolved row between Khartoum and Juba about the fees the south owes for using the north's oil infrastructure.

"Since achieving independence on July 09 2011, the ministry of petroleum and mining... has contracted the sale of 22 million barrels for export crude oil," the ministry said in a statement.

"This volume covers the July through October 2011 period and is transiting by ship through Port Sudan marine terminal to international buyers located in Asia and Europe."

"The ministry estimates the total value of exports for this period at $2.14bn, based on current market prices," it added.

South Sudan, which formally split from the north on July 09, produces three-quarters of Sudan's total crude output of around 470 000 barrels per day.

It is one of the poorest countries in the world, after decades of war with the north that left the resource-rich country in ruins. Oil accounts for more than 95% of its total revenues.

But negotiations on how to divide the industry are in limbo, with the two sides far apart on what they consider to be an acceptable arrangement.

The Khartoum government is desperately short of hard currency, and wants to charge the south $32 per barrel for the use of its oil infrastructure, including pipelines, refinery and export facilities.

Juba has rejected this charge, calling it "daylight robbery", and has argued that 41c per barrel, which Cameroon charges Chad for the use of its pipeline, is a fair international standard.

On Wednesday, the US nominee for ambassador to South Sudan called on north and south to reach an oil-sharing deal quickly to avert "economic stresses".

"Right now both sides are allowing the oil to continue to flow and to be exported but, without something solid pretty quickly, both countries will really face some serious economic stresses," Susan Page told a US Senate confirmation hearing.

South Sudan's President Salva Kiir was due to visit Khartoum this week, for the first time since southern independence, to discuss all the key outstanding issues with his northern counterpart, Omar al-Bashir, including oil and borders.

But the visit has been repeatedly postponed.

Read more on:    salva kiir  |  sudan  |  east africa
NEXT ON NEWS24X
SHARE:

Read News24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Add your comment
Comment 0 characters remaining
 

Inside News24

 
/News
 

New GIF keyboard on iOS for added fun!

Soon sending an LOL! or facepalm will be so much more fun!

 
 

For chic geeks...

Puppy goes crazy over iPad game
Printable solar panels will bring exciting new opportunities!
Now there’s a special lane for texting while walking
LOL! 7 brutally honest texts from parents

Jobs in Cape Town [change area]

Property [change area]

Travel - Look, Book, Go!

Magical Massinga

Spend 5 nights at the gorgeous Massinga Beach Lodge in Mozambique and only pay for 4 from R13 220 per person sharing. Includes return flights, accommodation, transfers and romantic turndown. Book now!

Kalahari.com - shop online today

Pre-order your iPhone 6 at kalahari.com

Hurry and pre-order your own iPhone 6 now at SA’s favourite online store!

Bargain box – 60% off

Reduced prices, very limited stock. While stocks last. Hurry and shop now!

Mind blow low prices on electronics

Get either the Prestigio multiphone or Proline tablet 7” tablet for only R699. Offers valid while stocks last. Shop now!

30% off Barbie toys

Save 30% on all Barbie toys and accessories. Offer valid while stocks last. Shop now!

Baby extravanganza month at kalahari.com

Celebrate baby month with a wide range of awesome baby products. Offers valid while stocks last. Shop now.

OLX Free Classifieds [change area]

Samsung Galaxy s4

Mobile, Cell Phones in South Africa, Western Cape, Cape Town. Date October 24

Best bargain in big bay

Real Estate, Houses - Apartments for Sale in South Africa, Western Cape, Cape Town. Date October 25

VW Golf 6, 1.6 Trendline (Excellent condition)

Vehicles, Cars in South Africa, Western Cape, Cape Town. Date October 25

Horoscopes
Aquarius
Aquarius

There is a tendency to fight against the current today but this will just use up a lot of energy and not get you very far. You...read more

There are new stories on the homepage. Click here to see them.
 
English
Afrikaans
isiZulu

Hello 

Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.


Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Settings

Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.








Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.