2012

South Sudan must exercise caution and total transparency in pursuing oil-backed financing, said Global Witness today. The detailed publication of any loan agreement will be critical in preventing exploitative terms, corruption, and mismanagement from undermining immediate benefits.

Carl Bildt and Ian Lundin should travel to South Sudan and ask for forgiveness. On Egbert Wesselink’s part a reconciliation process with Christian overtones weighs more heavily than accusations of crimes under international law in a Swedish court.

Beijing has poured billions into the oil industry in Sudan. Its stake in Sudanese oil is forcing China to move from its long-standing policy of staying out of the affairs of faraway lands. China doesn’t have much of a choice in the matter. If war erupts, it risks having to walk away from its sizable investment in the countries’ oil fields.

The announcement made by South Sudan last month of an $8 billion loan from China appears to have been overblown, according to officials in Juba as well as diplomats.

South Sudan may need more than the $760 million the United Nations has requested for humanitarian aid this year in the newly independent nation if the government maintains its shutdown of oil output, the world body said.

Chairman Ian Lundin flatly refused an independent inquiry into Lundin Petroleum, which is accused of serious human rights violations in Sudan. Not very smart, according to KLP, who think that the Swedish oil company should learn from Yara.

Although Folksam’s proposal for an independent investigation was voted down at Lundin's AGM, the outcome must be seen as a wake-up call to the company’s management. It cannot continue time after time to dismiss the company’s responsibility in former areas of conflict.

Ian Lundin's defence against charges that he has driven out civilians in the Sudan and used child soldiers is becoming chaotic. He orders that the microphone is torn from the hands of a critical shareholder, and he shows a propaganda film in which he is presented as Africa's Mother Teresa.

Before yesterday’s AGM, Tredje AP-fonden had sided with the rebels among the institutional shareholders. The impertinent group that was demanding an independent enquiry into the company’s activities in southern Sudan around the turn of the century.

Last year Lundin Petroleum achieved its best operating results ever. Its successful operations in Norway have made Lundin into a major and important Nordic player. And particular demands are made of these.