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Sudan pledges to review South Sudan's oil transit fees

Xinhua, May 20, 2016 Adjust font size:

Sudan's Minister of Petroleum and Gas Mohammed Zaid Awad said his ministry is committed to Sudan president's directives to review South Sudan's oil transit fees, Radio Tamazuj reported.

"Stability in South Sudan will help in developing the relationship with the two countries. Many issues with the two countries are governed by agreements signed by both sides," the Sudanese minister was quoted as saying.

He said that Sudan is ready to cooperate with all partners and international companies in oil industry who helped extract oil in Sudan.

Last January, al-Bashir directed to revise the interim economic measures with the Republic of South Sudan regarding the fees of transporting its oil through Sudan's territories.

South Sudan has repeatedly asked Sudan's government to reduce the oil transit fees due to the drop in the global oil prices and decline of the South's oil production to around 160,000 barrels a day due to the civil war which broke out in the new-born country in December 2013.

The oil deal, signed between Sudan and South Sudan in September 2012, stipulates that Juba would pay three billion dollars as assistance to Sudan in a period of three years besides that South Sudan's government would pay about 20 dollars as oil transit fees per barrel.

Before the signing of the agreement, Sudan suggested allotting a portion of South Sudan's oil as transit fees instead of specifying a figure, but South Sudan then dismissed the proposal and insisted on determining a figure. Endit