Sudan frees S Sudan`s oil tankers; dispute continu
Juba: Sudan released tankers loaded with South Sudanese oil that had been held at Port Sudan in a row over export transit fees, days after Khartoum seized crude from its new neighbour and offered it at a steeply discounted price.
Sudan`s Oil Minister Awad al-Jaz said the release came as part of efforts to reach an agreement with South Sudan on the transit fees, but so far "we don`t have any positive response from the other side”.
South Sudan has shut down oil output in protest at the seizing of the cargoes, and talks between the two to reach a settlement broke down over the weekend.
"The two tankers were freed on Sunday and they are carrying a total of 1.6 million barrels," said the industry source, declining to be identified because he is not authorised to talk to the media.
Oil is the lifeline of both countries` economies. The South controlled about 350,000 bpd of oil output when it became independent in July under a 2005 peace agreement that ended decades of civil war.
Oil provides about 98 percent of South Sudan`s income and is vital for developing an already poor country devastated by years of civil war.
China is the biggest buyer of oil from the two countries and the biggest investor in South Sudan`s oilfields.
More from India
More from World
More from Sports
More from Entertaiment
- Virender Sehwag's reply to Kargil martyr's daughter has taken the Internet by storm
- Ind vs Aus: Mohammed Azharuddin says Jayant Yadav and Ishant Sharma should be replaced in next Test
- Indian doctor rescued from ISIS recounts horror, says 'they forced me to watch videos, shot me thrice'
- Gurmehar Kaur reacts to Virender Sehwag's tweet, says she is heart broken!
- WATCH: MS Dhoni rips apart bowlers to smash brilliant 129-run knock in Vijay Hazare Trophy