South Sudan/Sudan: South Sudan Seeks to Revise Oil Deal with Sudan after Global Prices Drop

Aug 10, 2015 | Xinhua
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Due to the deteriorating economic conditions caused by the civil war and lack of political stability, South Sudan is seeking to revise the oil deal signed with Sudan, namely with regard to oil transit fees. Behind closed doors, talks are going on between Khartoum and Juba which sees the necessity of reducing the transit fees of its oil exports through the Sudanese territories which was set at 20 U.S. dollars per barrel after the global oil prices have dropped by over 50 percent.