South Sudan Says Sudan Poses New Obstacle For Oil Sales

- November 26th, 2012

Sudan has put a new hurdle in the way of allowing its land-locked southern neighbor to pipe its oil to the Red Sea, South Sudanese President Salva Kiir stated on Monday, dashing plans to revive production after an 11-month break.

Sudan has put a new hurdle in the way of allowing its land-locked southern neighbor to pipe its oil to the Red Sea, South Sudanese President Salva Kiir stated on Monday, dashing plans to revive production after an 11-month break.

Highlights from market news:

– Sudan’s currency fell to a historic low against the dollar on the black market on Monday

– South Sudan shut down its entire oil output of 350,000 barrels a day after tensions with Sudan over oil fees escalated

– Any delay in restarting oil exports would be a serious blow to both crumbling economies

Click here to read full CNBC article.

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