In an exciting deal.. The Emirates buys South Sudan’s oil for 20 years

 

Published on February 3, 2025

The Emirates signed a deal with the government of South Sudan to buy the south’s oil in advance for $12 billion for 20 years, at a price of $54 per barrel for “Nile Blend”, and $22 per barrel for “Dar Mix”, at a rate of 600,000 barrels per day.

The contract also stipulated that the government of South Sudan would provide the Emirati side with a sovereign guarantee with a nominal value of “$12 billion” or its equivalent in euros in addition to an interest rate of 2%.

The Emirati side stipulated that the government of South Sudan support the sovereign guarantee provided by the government of South Sudan with oil only, and that the sovereign guarantee be insured by an international agency. The Emirati side suggested “LIoyds of London” or a global insurance company.

The contract also gave the UAE the right to resell its share in the agreement with the government of South Sudan to any party without the need for the approval of the government of South Sudan, and under an additional clause in the contract, HBK will finance the construction of a new pipeline and refinery.

Source: Al Mayadeen

 

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