2012

South Sudan’s proposal on oil is commercially sound and, with $8 billion in budget support, may be the best that Sudan can ever get.

At the Saturday meeting in Addis Ababa, President Salva Kiir offered financial support and mediation to President Al-Bashir to bring the South Kordofan and Blue Nile conflicts to an end. In return, he asked the resumption of oil transit for exportation through the Sudanese pipeline and to organise a referendum on the future of the Abyei region.

In the ongoing talks between Bashir and Kiir, there is still no deal over pipeline transit fees, as security issues are given priority.

South Sudan has suggested it may resume oil production and export it through neighboring Sudan if a "fair deal" is reached during the ongoing talks with Khartoum.

Offshore Singapore a tanker has been stranded for about 150 days holding South Sudanese crude worth almost $60 million, which Sout Sudan says was stolen by Sudan. The cost of this dispute is estimated to be more than $3.3 million.

Sudan signed exploration and production sharing agreements with oil company Statesman Resources Ltd. from Canada as well as with Chinese, Nigerian, Australian, Brazilian, and French companies.

South Sudan may soon see commencement of implementation of an alternative vital joint oil pipeline project with Kenya that would transport the new nation’s crude oil to the international market and revive its staggering economy.

South Sudan's Cabinet proposed a 24 percent cut in its annual budget to account for a drop in government revenue after it shut down oil output five months ago.

There will never be an independent enquiry. Folksam are selling their shares In Lundin Petroleum. This is logical against the background of the debate that has taken place. But we will never get to know the truth about Lundin’s activities in Sudan.

China will provide South Sudan $8 billion in development loans over the next two years, a government spokesman said.