South Sudan could resume oil exports through Sudan by the end of the year

South Sudan could resume oil exports through Sudan by the end of the year, the South's chief negotiator Pagan Amum said yesterday, after meeting with Sudan's defense minister and other officials in Khartoum. This is according to Reuters.

"By the end of this year, it is possible to load the first ship of oil, especially after the agreement in the meetings today and yesterday," Amum told reporters.

"Implementation will begin in the coming days," he added.

This will be good news for the two countries whose economies have been severely affected due to the stoppage of oil flows from the South oil fields.

South Sudan depends on revenues from oil for over 95% of its budget. While the North depends on toll taxes from the use of its pipeline and port by the south. This is after the south went with three quarters of the oil reserves at independence from the north in 2011.

Oil exports were shut down in January 2012 after hostilities based on accusations and counter accusations over an unresolved border dispute and sharing of oil revenues.