China and Sudan sign new oil gas cooperation agreements
November 19, 2009 (KHARTOUM) — Sudan and the state firm China National Petroleum Corp (CNPC) signed this week three new oil and gas cooperation agreements.
The agreements consist of a memorandum of understanding on the second phase expansion of Khartoum refinery, advance payment for crude trading and an agreement to swap equity between CNPC’s Block 6 and Malaysia State Oil’s Block 5A.
The three deals are among eight agreements signed on Tuesday November
17 in presence of the Sudanese Vice President Ali Osman Taha and the visiting Member of the Political Bureau of the Central Committee of the Chinese Communist Party, Chu Yong Kang.
The agreements a Chinese loan of 230 million to Sudan, another Chinese loan of 80 million Yuan without profit and an agreement on a 80 million yuwan grant to Sudan. The two parties also signed an agreement on air transport between the Sudanese and Chinese Civil Aviation Corporations.
Through years of cooperation, Sudan has founded its own petrochemical industry and could fulfill domestic demand by home-made product oil from the Khartoum refinery. It also exports surplus crude oil to China in accordance with international prices, helping China to meet its fast-growing domestic demand.
On Thursday the minister of energy and mining, Al-Zubair Ahmed Al-Hassan, discussed with the CNCP chairman the extension of Khartoum oil refinery and oil exploration in the country.
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