US Seeks $3 Billion for Sudan Oil Deal
The US wants China and Arab states to help foot the $3 billion bill for a deal designed to unlock oil production and set Sudan and South Sudan back on the path to peace.
The warring neighbors reached agreement on Saturday on how much South Sudan should pay to export its oil via pipelines in Sudan, resolving a crucial part of a dispute that sparked fresh fighting and led the south to shut down crude production in January.
South Sudan will pay fees equivalent to $9.48 per barrel of oil for the use of export infrastructure in Sudan. It has also agreed to transfer $3.028 billion to Khartoum to plug part of the financing gap resulting from its secession from the north last year after decades of civil war.
But this leaves Khartoum short of another $3 billion — over three and a half years — that it is seeking in compensation for the loss of revenues from the oil-rich south.
The US is unable to fund
Read more: http://www.cnbc.com/id/48563106
Category: Khartoum
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