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South Sudan Signs New Oil Deals

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posted on Jan, 13 2012 @ 01:24 PM
Today South Sudan oil Minister has confirmed that agreements have been reach with Chinese, Malaysian, and Indian national oil companies. The agreements give the companies exploration and production rights to oil fields in the country. Oil revenues make up 98 percent of government budget for the world's newest nation.

However the North controls the pipelines which allow for the crude to reach the Red Sea. The two countries are locked in a dispute over how much the South should pay for use of the pipelines.

Source / Alternative source

Newly independent South Sudan has signed new agreements with foreign oil companies to replace deals made by the previously unified Sudan.

South Sudan’s oil minister has confirmed to VOA that representatives of the Chinese, Malaysian and Indian national oil companies signed deals in the southern capital of Juba Friday.

This is probably the reason the White House announced the export of defense related armaments to South Sudan, and U.S. military officers.

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