South Sudan Defends Transfer of Sudan’s Oil Company Shares
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South Sudan defended its decision to take control of the shares held by Sudan’s state-owned petroleum company in southern oil fields, calling it a “legitimate act of sovereignty.”
By a presidential decree on Nov. 8, South Sudan assumed ownership of the stakes held by Sudan’s Sudapet in joint operations with companies such as China National Petroleum Corp., Malaysia’s Petroliam Nasional Bhd and India’s Oil & Natural Gas Corp. The Sudanese authorities called the move an “arbitrary decision.”