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JUBA - 5 Sep 2013

Nearly $1 billion in oil revenues since May: Dau

South Sudan has made almost $1 billion from oil sales since resuming production in May, according to a statement released by the Minister of Petroleum, Mining and Industry, Stephen Dhieu Dau on Thursday.

Sudan has threatened since April to halt oil exports over alleged rebel support but agreed to continue the flow of oil during talks between the President of South Sudan Salva Kiir and Sudanese President Omar Al Bashir in Khartoum on Tuesday.

South Sudan sold around 9.8 million barrels of oil for $969 million until the start of September, the statement said. It had to pay $91 million in fees for using pipelines crossing Sudan and the Port Sudan port.

Juba paid an extra $147 million as part of a package to compensate Sudan for the loss of oil reserves with southern secession, as agreed in a deal in September.

Concluding the statement, Minister Dau expressed optimism at the new spirit of cooperation between the governments of the two Sudans to guarantee the uninterrupted flow of South Sudan crude oil.