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Gold/Mining/Energy : Lundin Oil (LOILY, LOILB Sweden)
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To: Razorbak who wrote (2731)9/8/2001 9:56:46 PM
From: Tomas  Read Replies (1) of 2742
 
Will oil bring peace to Sudan?

From Los Angeles Times, September 5
White House to Launch Sudan Peace Initiative
...
Oil is the biggest new variable and could make the difference after the past failures, the U.S. officials say. Sudan began exporting oil from the north in 1999, with significant revenue expected to begin next year. But the larger reserves may be in the south, they say.

Sudanese President Omar Hassan Ahmed Bashir is under growing pressure from oil companies and foreign governments to negotiate. His government also faces internal pressures over the prospect of another famine and recent military inroads by southern rebels.

In the south, the Sudan People's Liberation Army, led by John Garang, faces the possibility that Sudan's new oil income next year will pay for major new arms purchases by the government that will diminish or eliminate the rebel group's viability.

"Oil could make both sides realize that they'll be better off if they can take advantage of this new income," the well-placed U.S. official said. "It may make the government willing to hold its nose and give political concessions to the south to get those economic benefits."
...
The Bush administration is also planning to unveil a major aid program of as much as $30 million for humanitarian relief and development for the poor nation.

Full article: latimes.com
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