UAE to help Sudan secure all petroleum needs through flexible agreement - Sudanese minister

Sudan has had frequent troubles securing a stable supply of petrol, diesel, fuel oil, and cooking gas, which have resulted in frequent lines at gas stations, power cuts, and protests.

  
ADNOC assigned AA+ Standalone and AA Long-Term Issuer Default Credit Rating by Fitch. Image used for illustrative purpose.

ADNOC assigned AA+ Standalone and AA Long-Term Issuer Default Credit Rating by Fitch. Image used for illustrative purpose.

ADNOC / Handout via Zawya

KHARTOUM - The United Arab Emirates has committed to supplying Sudan's full requirements of petroleum products through a contract by the UAE's state oil producer ADNOC, Sudan's cabinet affairs minister Khalid Omer Yousif told Reuters on Tuesday.

Sudan has had frequent troubles securing a stable supply of petrol, diesel, fuel oil, and cooking gas, which have resulted in frequent lines at gas stations, power cuts, and protests.

Yousif said Sudan received very favourable financial terms. Financing imports has frequently been an issue as the country has chronically low foreign reserves.

The country's transitional government has removed subsidies on petrol and diesel, part of a raft of reforms designed to attract foreign financing and pull the country out of a protracted economic crisis.

Fuel oil and cooking gas remain subsidized.

A delegation from Sudan's energy ministry will visit the UAE next week to discuss the details of the agreement, Yousif said.

The UAE also agreed to help facilitate money transfers between the Gulf state and Sudan, which is rebuilding foreign banking linkages after decades of US sanctions, Yousif said.

The details would also be hashed out between Sudan's central bank governor and his Emirati counterparts next week, he added.

The agreements came during a two-day visit to Abu Dhabi by Yousif and Sudan's sovereign council head General Abdel Fattah al-Burhan that concluded on Monday.

(Reporting by Khalid Abdelaziz, writing by Nafisa Eltahir; Editing by David Gregorio) ((Nafisa.Eltahir@thomsonreuters.com;))


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