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South Sudan oil revenue $969 million

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Staff writer ▼ | September 6, 2013
South SudanSouth Sudan's ministry of Petroleum, Mining and Industry (MPMI) has announced it has sold a total of 9.79 million barrels of crude oil since the resumption of oil production in May this year, earning a gross revenue of $969 million.

Based on the sales, the Government of the Republic of Sudan will receive a total of $238 million in transit, transportation and processing fee amounting to $91 million and $147 million as per the Transitional Financial Arrangements (TFA), the ministry stated in a press statement.

The ministry is obligated to make the information on oil production available to the citizens of South Sudan and all stakeholders for the purposes of accountability and transparency.

"I take this opportunity to express my optimism that the renewed spirit of cooperation between the Republic of South Sudan and the Government of the Republic of Sudan will continue to guarantee the undisrupted flow of South Sudan crude oil to the international markets for the mutual benefit of both countries", the minister of Petroleum, Mining and Investment Stephen Dhieu Dau said.

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