Thursday, Jan 29, 2015Thursday, Jan 29, 2015

Sudan, S. Sudan strike oil deal: African Union

Published on Aug 4, 2012 10:42 AM

ADDIS ABABA (AFP) - Sudan and South Sudan have reached an agreement on how to share the oil riches controlled by Khartoum before the country's partition, African Union (AU) mediator Thabo Mbeki said on Saturday.

"The parties have agreed on all of the financial arrangements regarding oil, so that's done," Mr Mbeki told reporters, without offering details. Mr Mbeki said the production and export of oil would resume, but did not confirm when.

"The oil will be flowing," he said, leaving an AU Peace and Security Council meeting in the Ethiopian capital.

"What will remain, given that there is an agreement, is to then discuss the next steps as to when the oil companies should be asked to prepare for resumption of production and export," Mr Mbeki added.

If you are not a subscriber, you can get instant, unlimited access here