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FINANCIAL NEWS
S Sudan to defer oil exports for 2 months
04 Jan 2013
(MENAFN) South Sudan’s Oil Minister, Stephen Dhieu Dau, stated that the country will postpone oil exports until mid-March, as its borders with Sudan are not secured yet, reported Arab News.
Although South Sudan and Sudan solved all their security conflicts, however, the two countries failed to decide on how to secure their disputed border, which is a necessary condition to carry on oil exports.
Since last January, the two countries have been in dispute as South Sudan, which declared independence in July 2011, closed its crude output of 350,000 barrels per day (bpd) after failing to agree export fees with Khartoum.
Dau added that both countries had made preparations to recommence pumping oil to Sudan’s export terminal at Port Sudan; nevertheless, it would take 2 months to reach markets.
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