Minister reassures India about its oil investments in Sudan
November 1, 2010 (KHARTOUM) – Indian oil investments will not be affected by the independence of southern Sudan following a referendum scheduled to take place next January.
Sudan’s oil minister Lual Deng Lual who is currently visiting India told reporters in New Delhi that Indian investments in southern Sudan oil will be preserved disclosing that “a formula is being worked out” in this regard.
Lual is attending the ninth Petrotech International Oil and Gas Conference and Exhibition organized by the Indian Ministry of Petroleum and Natural Gas.
ONGC’s overseas arm ONGC Videsh Ltd (OVL) has a 24.125 per cent stake in Sudan’s Block 5A. OVL also has a 25 per cent stake in Sudan’s Greater Nile Oil Project (Block 1, 2 and 4), which produces 280,000 bpd.
OVL, which entered Sudan in 2003, already has three oil blocks in Sudan. It has also built a 741-km-long multi product Pipeline linking Khartoum Refinery to Port Sudan.
India meets about 80% of its crude oil requirement and 20% of its natural gas requirement through imports. Indian demand during the next 10 years for oil is expected to increase by 40%.
The Sudanese minister said that his country is seeking to build a 150,000 barrels-per-day refinery at Port Sudan by the end of this year, stressing that Sudan welcomes any investment partners.
(ST)
Young Nation
Minister reassures India about its oil investments in Sudan
The foreign oil companies likely to be affected when South Sudan becomes a sovereign nation are those still doubting the probability of South Sudan becoming a separate political entity from the North. Top on list are Chinese and some Asians oil companies. My humble opinion is that, the SPLM should really pay serious attention and start identifying who its true and genuine friends are amidst this time of need. True friends are those who come to their aid during time of uncertainties. As Southern Sudanese, we deeply know who such freinds are. America and some African countries to the South of Sahara are among these friends.
Young Nation is a BA student at UQ, Brisbane, Australia
jalabi
Minister reassures India about its oil investments in Sudan
What crazy people??!!
Are you angry because Sudan oil minister speaks frankly and away of emotion??!! those who live in US, Austoralia, and Europe and very eager to separate the south, have you ever thought about how would you export your oil if diverted from Port Sudan?? tell me how? by bucket through Kenya?! knowing the fact that 98% percent of the south revenues are from the oil which exported through north and managed by north and the south gets the money at the end of the day because of that.
Did you hear the south finance minister when express his deep concern if the south people voted for secession because his treasury is empty and no agreement yet between north-south on how the oil revenue will be calculated.
Are you angry because the oil minister Mr. Lual talks about new project of 150,000 barrels-per-day refinery at Port Sudan by the end of this year??!!
Did you know that last week he inaugurated new oil well in the north (south Darfour)??!!
The oil minister made it clear that he is unionist and no longer separatist, this what he believes and you know what believe means.
Mr. Lual knows very well that the quantity of the oil in the north much bigger than the south and the south will always need for the north and will rely on the north not only on oil exporting but starting from the suger spoon and even the piece of match that comes from the north ending on oil exporting!
I totally support secession for now because I want to see how bad the “fail state” going to be, and those who consider US as GOD and will take them from the hellfire and drag them in heaven, you will be hardly disappointed my friend when the truth reveals itself!
Jalabi (Abo Jalabia)