Sudan oil revenues for January reach $582 mln

March 3, 2008 (KHARTOUM) – Sudan’s oil revenues for the month of January 2008 has reached 582.12 million US dollars the Sudanese ministry of finance and economy said today.

464.7 million dollars were the exports’ proceeds and 117.53 million dollars were revenues of the crude oil used by local refineries.

These figures are announced during the meeting of the Joint Committee on Determination and Allocation of Oil Revenues between the Government of National Unity (GoNU) and the Government of Southern Sudan (GoSS) on Monday.

The Undersecretary of the Ministry of Finance and National Economy, Al-Tayeb Abu-Ganayah said that federal government share was 350.38 million dollars whereas Southern Sudan government share was 231.39 million dollars for January 2008.

He pointed out that the direct transfers to GoSS for the same month were 223.07 million dollars as the direct spending on Goss reached 1.32 million dollars, adding that the amount of money deposited in the Oil Revenues Stabilization Account (ORSA) during last January was 95.11 million dollars.

There were not any withdrawals from ORSA during the said month, he stressed.

Abu-Ganayah said that share of the oil producing states was 11.88 million dollars from which 10.88 million dollars were transferred to those states as follows:- 1- Unity State 3.49 million dollars 2- Upper Nile State 4.60 million dollars 3- South Kordofan State 2.79 million dollars.

According to the national wealth sharing pact, signed in 7 January 2004 by Sudanese Government and Sudan People’s Liberation Movement, at least 2.0 pct of the oil revenue is allocated to the oil-producing states in proportion to their output.

Undersecretary of GoSS Ministry of Finance Agri Tesa Saboni praised full homogeneity and consistency in the committee works and transparency in figures precision.

(ST)