27 March 2013 15:05 [Source: ICIS news]
SINGAPORE (ICIS)-- South Sudan has signed a supply agreement with Trafigura, enabling the Switzerland-based trader to purchase Dar Blend crude, the company said on Wednesday.
“Under the agreement, signed on 7th March, Trafigura will purchase Dar Blend crude oil from the Republic of South Sudan. The crude oil will be delivered to Port Sudan for export via pipeline,” it said.
Trafigura expects Dar Blend oil production to start in the next few days. However, no details regarding the volumes of crude involved were available.
South Sudan was exporting Dar Blend and Nile Blend crude through neighbouring Sudan via pipeline until tensions between the two nations over pipeline tariffs halted production in 2012.
The US Government’s Energy Information Administration (EIA) estimates that crude oil production in Sudan and South Sudan averaged around 425,000 bbl/day in 2011. About 75% of the total oil production originates from South Sudan.
According to the EIA, international trade data indicates Sudan and South Sudan exports averaged 330,000 bbl/day in 2011. Almost all of the oil exports were to markets in Asia. Exports to China accounted for around two-thirds of the total.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections