UPDATE 1-Sudan says to release ships seized from S.Sudan
Here you can find all the latest breaking forex and currency news about UPDATE 1-Sudan says to release ships seized from S.Sudan including currency analysis and forecasts, live foreign exchange rates, central bank interest rates, and currency trading strategies from experienced fx traders and forex platforms.
By Aaron Maasho
ADDIS ABABA, Jan 28 (Reuters) - Sudan will free ships carrying cargos of crude it seized from South Sudan to ease tensions between the former civil war foes and help the two states agree on a deal over oil revenue, Sayed El-Khatib, deputy head of negotiating team said on Saturday.
'President Bashir is ready to make this gesture. Sudan is going to release the vessels detained in Port Sudan,' he told a media conference in the Ethiopian capital.
South Sudan became independent in July under a 2005 peace agreement with Khartoum that ended decades of conflict but both sides have failed to agree how to untangle their oil industries.
The new landlocked nation needs to use a northern pipeline and the port of Port Sudan to export its crude but has failed to reach an agreement with Khartoum over a transit fee, prompting Sudan to start seizing oil as compensation.
South Sudan said on Monday it had started shutting down oil production and accused Sudan of seizing $815 million worth of crude.
South Sudan's top negotiator said on Friday his country would complete the shutdown by Saturday, after Sudanese President Omar al-Bashir and South Sudan's President Salva Kiir met on the sidelines of a meeting of East African officials in Ethiopia.
Sudan said it was freeing the ships to help end the deadlock.
'By doing this step, we expect the cover agreement to be signed, the shutdown to be halted, and the terms of the cover agreement to be respected,' said El-Khatib.
'Before the end of today, we could be able to sign the cover agreement. We, at least, are ready to sign.'
Officials said in November South Sudan was producing about 350,000 barrels of oil per day.
China is the biggest buyer of oil from the two countries, some 12.99 million barrels last year. That amounted to five percent of last year's crude imports by China, which is also the top investor in South Sudan's oilfields.
(Writing by James Macharia; Editing by Toby Chopra) Keywords: SUDAN OIL/
(nairobi.newsroom@reuters.com)(Tel: +254 20 222 4717)
COPYRIGHT
Copyright Thomson Reuters 2012. All rights reserved.
The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
The article above is about breaking forex and currency news regarding UPDATE 1-Sudan says to release ships seized from S.Sudan, if you have any question about it. Please contact us by using the link below. Thanks for your patience.
- Lynas faces claim against Malaysia rare earths plant license
- Japan in final talks to cut Iran oil imports by over 20 pct -media
- UPDATE 2-Air Canada mechanics, baggage handlers reject labor deal
- S&P Asgns Rtgs To Eastman Kodak DIP Facility
- RBA's Ellis: Australia cenbank does not target house prices
- S&P Assigns Semtech Corp. 'BB' Rating; Outlook Stable
- NYMEX-U.S. crude up 5th day, recovers late on Iran
- UPDATE 1-Prevnar trial results needed for CDC recommendation
- CANADA STOCKS-TSX rallies to 5-month high on gold, U.S. data
- BRIEF-Moody's affirms Fortum's A2 ratings
- Coking unit also shut by BP refinery fire in Washington-filing
- Japan, UK finmins call for less IMF reliance-FT
- UPDATE 1-U.S. Congress members receive threatening letters
- Australian PM looks set to call leadership vote
- REFILE-UPDATE 2-US judge strikes down law mandating sale of contraception
- Tesoro restarting Washington refinery unit
- NRC proposes first post-Fukushima safety orders
- TEXT-S&P on Citigroup Global Markets 2012-1
- UPDATE 1-US Treasury says Europe needs solid debt firewall
- CANADA STOCKS-TSX rallies to 5-month high on gold, U.S. data
- BRIEF-Moody's comments on Exelon's rating review
- U.S. Congress members receive threatening letters
- BRIEF-Duke Energy and Progress Energy file market power mitigation plan
- TEXT-Fitch: Progress Florida agreement has no immediate impact on ratings
- Monoprix 'taken hostage' after buyout talks stall
- US crude adds to losses, Brent pares gains on APIs
- Total to pay $15 mln to settle US false claims case
- Algeria, Libya set aside row to tackle security
- BRIEF-Interface says to redeem $11.5 mln of notes earlier than due
- Aussie & NZ dlrs run out of steam as risk demand recedes