Sudan’s oil revenue reaches $2.7 billion in first half of 2010

September 6, 2010 (KHARTOUM) – Sudan’s oil revenue reached $2.7 billion during the first half of this year which is a 42% increase compared to the second half of 2009, according to the finance and national economy ministry.

The Undersecretary of the Ministry of Finance and National Economy Al-Tayeb Abu-Gnaya made the announcement during meeting with officials from the Government of Southern Sudan (GoSS) to determine the shares between the North and South in accordance with the 2005 Comprehensive Peace Agreement (CPA).

Abu-Gnaya said that exported oil totaled $1.94 billion, $780.21 million used in local refineries and that the share of the government of National Unity (GoNU) and GoSS were $1.51 billion and $1.08 billion.

The Sudanese official said that shares of the oil producing states of Unity, the Upper Nile and South Kordofan were $12.39 million, $24.65 million and $9.40 million respectively. The share of Abyei area was $6.65 million.

All of the aforementioned figures cover the first half of the year 2010.

The total oil revenues for June-December 2009 amounted to $1.86 billion. The share of GoSS for the same time period was $698.90 million.

The Undersecretary for South Sudan finance ministry Salvatore Mabior certified the accuracy of the calculation according to Sudan official news agency (SUNA).

Sudan usually publishes oil sharing figures on a monthly basis. It is not clear why they were lumped up for 2010.

A row erupted last month between the North and South after the latter claimed that it is receiving transfers in local currency instead of hard currency. However, the Sudan central bank governor denied the claims and accused the South of lying.

(ST)