Home | News    Tuesday 28 February 2006

Sudan to adopt new method on sharing of oil revenue

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Feb 27, 2006 (KHARTOUM) — The Federal Minister of Finance, al-Zubair Ahmed al-Hassan said that a new method would be adopted for the sharing of oil revenue between north and south.

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Chinese manpower at an oil field of Petrodar in southern Sudan. (Petrodar).

The method involves the preparation of a monthly unclassified report showing the revenues and the share of each, al-Zubair said. He further said that these revenues will be checked by International Institutions.

In his 28 January press conference, Salva Kiir said his northern partners had not given the south half of Sudan’s oil revenues as the deal requires. "We still have not got the real share of the oil revenues," he told reporters in Khartoum, adding there were differences over the amount of oil produced in Sudan. The northern oil minister puts oil production at around 330,000 barrels per day (bpd), but the SPLM says it could be as high as 450,000 bpd.

The peace agreement signed Jan. 9, 2005 promised an equal share of oil wealth to an autonomous southern government, but southern leaders say the north has given only a fraction. Northern officials blame delays on bureaucracy.

According to the Finance Minister, South Sudan share from oil revenue, which was transferred to GoSS, totalled $800 million.

The Minister reviewed a balance sheet detailing that share, and adding that $197 million were spent on South Sudan before the formation of GoSS and putting into effect the Peace Agreement.

Replying to an accusation made by the Deputy Governor of the Bank of Sudan Aleja Malok saying that minister of energy and oil is hiding the real figures of oil revenues, the Minister denied that, stating that NCP and SPLM have set up an eight-member committee to audit oil revenues.

The Minister said they asked SPLM to name its four members on the committee but it has submitted only the names of two representatives who have participated in auditing the accounts and are in complete harmony with the Ministry.

Controversy surrounds oil concessions, some issued by both northern and southern officials. Britain’s White Nile company, for example, last year bought a concession from southerners that French Total has had on-hold since the 1980s.

(ST)

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