Petroleum / Mining in Sudan
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BOTSWANA, 2016/05/11
Oil, gold, diamonds, palm oil, cocoa, timber: raw materials have long been linked to Africa in a lot of businesspeople’s minds. And in fact the continent is highly dependent on commodities: they constitute as much as 95% of some nations’ export revenues, according to the United Nations Conference on Trade and Development.
But propping a country’s entire economy on commodities is risky business, like building a mountainside home on stilts. You can’t be sure about the weather, or in this case the commodities market. The current free-fall of oil prices to less than $40 a barrel is a glaring example. “The commodities cycle has tanked out,” says Austin Okere, founder of Computer Warehouse Group (CWG), a Nigerian emerging multinational financial services company. “And this time it looks additional structural than cyclical, so it’s not a matter of waiting it out. Something has to give.”
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SUDAN, 2015/11/11
Sudan is one of Africa’s major gold producers; and a vast resevoir of untapped resources provide further golden opportunities for investors in mining
The secession of South Sudan has proven to be the catalyst Sudan needed to revitalize its economy, the country’s National Minister for Investment Osama Faisal Elsayed Ali states. Since 2011, the country has embarked on a bold strategy of diversification away from oil, and towards industries such as mining and agriculture.
The gold industry, in particular, has boomed in recent years. It plays a very vital role in the country’s economy, generating additional than $3 billion in sales each year.
“It was a good opportunity for investors because everybody was relying on the oil and all of a sudden the deficit was created because of the secession,” says Mr. Ali. “For additional than 50 years nobody was thinking of doing mining – people were always concentrating on oil, oil, oil. But instantly next the secession we started to produce gold and other minerals as well.”
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SUDAN, 2013/09/16
Sudanese ruling National Congress Party (NCP) has approved a controversial proposition to remove subsidy on petroleum products, in addition to other economic policies aimed at bridging the gap in the balance of payments, the official Sudanese news agency, SUNA, reported Friday.
SUNA said the party approved the policy at a conference of its Leadership Council, chaired by President Omar Al-Bashir. The conference ended in the early hours of Friday.
The decision was taken in light of a statement by Vice President Hajj Adam Yusuf on the economic programme, the news agency said.
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SUDAN, 2013/09/12
Opposition parties in Sudan have vowed to embark on massive protests if the ruling National Congress Party of President Omar Al-Bashir carries out its plan to remove subsidies on fuel and other basic commodities.
The government said the decision to remove subsidies was spurred by economic realities and developments across the country.
But Kamal Omar, Spokesman for the National Consensus Forces Alliance (NCFA) and political secretary of the opposition Popular Congress Party (PCP), was Tuesday quoted by the Al-Ayam independent daily newspaper as saying that opposition parties would organize demonstrations and sit-ins in turmoil against the 'planned hike in prices'.
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SOUTH SUDAN, 2013/08/28
Sudan earned additional than $230 million in fees for the export of South Sudanese oil this year, official media reported on Sunday, days before a Khartoum deadline to shut the pipelines.
“The government of South Sudan sent the fees for oil transportation to the Sudan Central Bank,” the official SUNA news agency quoted the bank’s assistant governor, Azhari al-Tayeb al-Faki, as saying.
The documented all is $236 million, SUNA said.
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SOUTH SUDAN, 2013/07/20
South Sudan has reduced its oil output and plans to shut it off completely next northern neighbor Sudan insisted production be shut down by Aug. 7,officials said, over allegations of support for rebels that operate across their border.
Sudan said a month ago it would close two cross-border oil pipelines within two months unless South Sudan, its former civil war foe, gave up support for the rebels. Juba denies this.
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SOUTH SUDAN, 2013/06/11
Sudan's President Omar al Bashir has ordered the closure of Sudan’s oil pipeline transporting South Sudan oil with result from Sunday, as political differences between the two nations takes an extra dip.
The official Sudanese news agency said President Bashir had instructed the Minister for Petroleum, Dr Awad Al Jazz, to close down oil pipelines, which carry oil from South Sudan, as of Sunday, accusing Juba of continuing to provide assistance to renegade and rebel elements fighting Khartoum.
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SOUTH SUDAN, 2013/04/15
Sudan's oil ministry said Sunday that the prime crude from South Sudan reached its territory, bringing both impoverished nations closer to billions of dollars in revenue next a dispute over fees.
"The prime batch of oil by presently arrived on Sudanese land yesterday," Sudan's undersecretary at the petroleum ministry, Awad Abdul Fatah, said. "It's a small testing quantity."
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SUDAN, 2013/04/02
Sudan plans to increase gold exploration this year, President Omar Hassan al-Bashir said on Monday, as the country reported it had sold gold worth $2.2 billion to other nations last year. Bashir said that the deepened gold exploration would be done with the assistance of Chinese and Russian companies are interested in African business.
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SUDAN, 2013/02/10
Sudan has sold a cargo of oil of disputed ownership from South Sudan oilfields, a minister and trading sources said, in what is likely to be seen by the south as a provocation next security and oil transport talks between the two nations fell apart.
Sudan's President Omar Hassan al-Bashir and South Sudan's Salva Kiir failed at talks in Ethiopia last month to end a stalemate over withdrawing armies from a border region - a pre-requisite for resuming oil exports.
