India wants no transit fee on Sudanese oil | business | Hindustan Times
Today in New Delhi, India
Oct 18, 2017-Wednesday
-°C
New Delhi
  • Humidity
    -
  • Wind
    -

India wants no transit fee on Sudanese oil

India, which has interests in oil fields in Sudan, has sought exemption from transit fees on moving crude oil from its South Sudan fields to ports in North Sudan for exports.

business Updated: Oct 16, 2012 22:50 IST
HT Correspondent

India, which has interests in oil fields in Sudan, has sought exemption from transit fees on moving crude oil from its South Sudan fields to ports in North Sudan for exports.

It has said that fiscal stability prudence demands that its investment, made before the African nation was split, be protected.

South Sudan last month signed a long-awaited cooperation agreement, paving the way for resumption of oil exports. South Sudan has billions of barrels of oil, but the pipeline runs through the north. It shut down production last winter after feud with North Sudan over terms.

As per the agreement, oil producers like the Greater Nile petroleum operating company (GNPOC), where ONGC Videsh Ltd has 25% interest alongside Chinese and Malaysian firms, will pay $8.4 per barrel for transportation and another $1.6 as processing fee, a senior government official said on Tuesday.