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Sudan Issues a Report on Oil Revenues Sharing with the South

12-05-2007

 In its regular meeting on oil revenues sharing, the Joint Committee for Oil Accounts, which includes the National Government and Government of Southern Sudan, has reviewed production position, prices, domestic use and exports and sharing of the return in accordance with the provisions of wealth-sharing of the Comprehensive Peace Agreement (CPA).

 
Oil revenues of last October registered the highest rate since the beginning of petroleum production, where it registered 536 million dollars, 419.4 million dollars of which from exports return and 116.6 million dollars as the proceeds of the domestically used petroleum. Undersecretary of the Ministry of Finance and National Economy, Al- Sheikh Al- Mak pointed out that the share of the Government of Southern Sudan (GoSS) of the oil revenues was 208.3 million dollars of which 172.4 million dollars of exports and 35.9 million dollars of the locally used oil, adding that GoSS received 178.3 million dollars represents the total of direct remittances from the centre.

The committee also reviewed the Oil Revenues Stabilization Account (ORSA) which registered 153.8 million dollars in last October and the share of oil producing states which amounted to 9.56 million dollars; 3.45 million dollars for the Unity State, 4.04 million dollars for Upper Nile State and South Kordofan State 2.07 million dollars. The committee attributed the increase of the revenues to the rise of the Dar Field production alongside receiving of three shipments of last August exports revenues