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South Sudan accepts to pay Sudan’s $262 million oil debt

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November 4, 2017 (JUBA) – South Sudan government says it will pay the pay $262 million demanded for transfer of oil through Sudan’s territory.

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A pipeline that transports crude oil from the south to Port Sudan (Reuters)

“It was agreed that the government of South Sudan should pay off the outstanding arrears which were not paid,” South Sudan’s information minister, Michael Makuei Lueth was quoted saying.

He added, “We want to avoid renegotiating the existing oil deal.”

South Sudan got the lion’s share of the oil when it split from Sudan in July 2011 after a referendum, but it’s only export route is through Sudan, giving Khartoum leverage and leading to pricing disputes.

Since its independence, however, South Sudan has relied on oil for all income, a situation that has significantly compounded ongoing political and economic instability due to the fall in crude oil prices.

According to South Sudanese officials, production in the past reached 350,000 bpd but fell after a dispute with Sudan over fees for pumping South Sudan’s crude through Sudan’s export pipeline, leading to a halt in oil production in 2012.

Even after restarting its production, it never recovered to those levels, but it dropped to 245,000 barrels per day after the outbreak of the civil conflict in South Sudan in 2013, which hindered production in the oil-rich areas of the north.

South Sudan is obliged under the terms of the 2012 Cooperation Agreement to pay Sudan $9.10 per barrel for oil flowing using Petrodar facilities in Upper Nile in addition to a fee of $15 per barrel in fulfillment of a $3.028 billion package which the two sides agreed as Transitional Financial Arrangement (TFA). The TFA is meant to help Sudan cover the gap resulting from the loss of revenues due to South Sudan’s secession in 2011.

(ST)

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  • 5 November 10:05, by Eyez

    Look at this joker called Makuei trying to justify a bogus payment, until when will you relay on Khartoum. Anyway, we Southern Sudanese will not honour any of your JCE government’s agreements or debts with any country when a true democratic people’s government takes the nation back from you Jienge cockroaches.

    X1

    repondre message

    • 5 November 13:14, by jubaone

      Eyes,
      How in the world must SS compensate Khartoum through this bogus FTA when the later killed and looted SS with impunity? How stupid must these junubin bastards have been to allow such an agreement to go through? How can SS reward oppressors with such submissions? Oh my God. These jienge cockroaches. It sucks!

      repondre message

      • 5 November 17:52, by South South

        jubaone,

        If you are now in the position of South government, what would you do an old man? We know you are very coward and you are very afraid of fake Arabs, but you have big mouth in internet.

        repondre message

        • 5 November 18:41, by jubaone

          Sour South,
          At least I would NOT think and do things like a jienge 😆

          repondre message

    • 5 November 17:49, by South South

      Eyez,

      We are South Sudanese, not Southern Sudanese. If you do not how to call your people, how would you call yourself South Sudanese, just shut up and enjoy DIASPORA and leave country for real people to rule it.

      repondre message

      • 5 November 22:54, by Eyez

        South Slut

        You are not just a pinhead and a knob, but I now clearly see that English is a real challenge for your little Jienge cow-dunk infused brains. Please keep to the kitchen or go wait on tables, boy.

        You JCE and Kiir’s skitmarks are gonna regret, because, once we despose off your leaders, we’re coming for your blood, we will see who is in the diaspora.

        Tic toc tic toc

        repondre message

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