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Sudan's oil transit fees revenues from S. Sudan reach 160 mln USD in Q1

Xinhua, May 31, 2016 Adjust font size:

Sudan's revenues from South Sudan's oil transit fees during the first quarter this year amounted to 160.4 million U.S. dollars, Sudanese Minister of Petroleum and Gas, Mohamed Zayed Awad announced.

Juba 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