Southern Sudan To Continue Marketing Its Oil Through Federal Government.
Southern Sudan will continue marketing its oil through the federal government after 9th July, until an agreement is reached between the two parties over usage of oil infrastructures in the north.
That statement is from the petroleum minister in the federal government, Lual Deng.
Deng was speaking in a press conference in Khartoum on Thursday.
[Lual Deng]: “On the 2nd June, I went to Juba to explain to the first vice president and the president of GOSS, the situation. I told him what could happen if we do not take a sooner action, therefore he decided to form a committee for marketing the oil of the south. However GOSS president later issued another decision dissolving this committee, and agreeing that the old system will continue until the two parties come up with an agreement.”
Deng said that to insure transparency in the oil share, southern Sudan’s oil revenue will be deposited to GOSS Bank account in the US.
[Lual Deng]: “There was an interim agreement that oil share will depend on geographical principle or territoriality. What is in the south is for southerners and what is in the north will be for northerners. I would like to assure people of southern Sudan that their oil share is in good hands, we have already sold their oil, and for the sake of transparency, this money will be deposited to the GOSS Bank account in City Bank in New York.”
Lual Deng later disclosed that northern Sudan has agreed to accept transit fees from the south to export southern oil after the independence, adding that the two sides are yet to set the price.
About three-quarters of Sudan's output of oil is roughly 500,000 barrels per day which comes from the south, but most of the terminals, pipelines and refineries are in the north.
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