• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 34 mins GREEN NEW DEAL = BLIZZARD OF LIES
  • 17 hours Could Someone Give Me Insights on the Future of Renewable Energy?
  • 16 hours How Far Have We Really Gotten With Alternative Energy
  • 17 hours "What’s In Store For Europe In 2023?" By the CIA (aka RFE/RL as a ruse to deceive readers)
  • 3 days Bankruptcy in the Industry
  • 7 hours Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 4 days The United States produced more crude oil than any nation, at any time.
Big Oil’s Carbon Capture Conundrum

Big Oil’s Carbon Capture Conundrum

Energy experts and environmentalists express…

Saudi Aramco Eyes Stake in Chinese Petrochemical Firm

Saudi Aramco Eyes Stake in Chinese Petrochemical Firm

Saudi Arabia’s oil giant, in…

Sudan’s President Threatens to Shut Pipelines

Sudanese president Omer Hassan al-Bashir has threatened to shut down the pipelines from the landlocked Southern Sudan to Port Sudan on the Red Sea unless a revenue sharing deal is reached by the end of July.

Later this month Southern Sudan will formally declare its independence from Khartoum’s control following an internationally supervised referendum in January which resulted in an almost unanimous vote in favor of secession from the North.

A number of contentious post-referendum issues have yet to be resolved, including border demarcation, citizenship, apportioning the national debt and oil sharing, Sudan Tribune reported.

The hydrocarbon issue is particularly important because energy exports constitute the majority of the country’s export earnings.

Sudan’s ruling National Congress Party and the Sudanese People Liberation Movement are currently attempting to negotiate compromises on these issues assisted by mediation efforts of the African Union in Ethiopia’s capital Addis Ababa.

While the southern Sudan holds around 75 percent of Sudan's oil reserves, the north has both the country’s refineries and pipelines, leaving the south needing Khartoum's cooperation to sell its oil even as the north needs a portion of its southern neighbor's revenue resources.

Currently northern and southern Sudan are splitting the proceeds of hydrocarbon sales in accordance with the terms of the Comprehensive Peace Agreement signed in 2005.

By. Charles Kennedy, Deputy Editor OilPrice.com



Join the discussion | Back to homepage



Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News