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Sudan, S. Sudan reach oil deal

Updated: 2012-08-06 07:49
By Aaron Maasho in Addis Ababa, Ethiopia ( China Daily)

Sudan said on Saturday it had reached a deal with South Sudan on oil transit fees, a first step toward ending a dispute which had brought the hostile neighbors close to war, but also said it wanted a border security agreement before oil flows resumed.

The shareout of oil revenues was one of the biggest issues left unresolved when South Sudan became independent in July last year, under a 2005 agreement that ended decades of civil war, and fighting along the ill-defined border pushed them close to war in April.

US Secretary of State Hillary Clinton said the oil agreement showed a "new spirit of compromise on both sides", and US President Barack Obama said Sudan and South Sudan should build on the momentum to resolve their remaining border and security issues.

Sudan, S. Sudan reach oil deal