that period to a mechanism established by it with twothirds majority to arbitrate on the objection. The arbitration decision shall be made within six calendar months of referral to arbitration. The arbitration decision shall be final and binding, (e) if the National Petroleum Commission approves the contract, the National Minister responsible of Petroleum shall sign the contract on behalf of the Government of the Sudan, (f) in performing functions (a), (b) and (c) of sub-Article (3) above, the National Petroleum Commission shall include only its permanent members, (g) in performing function (d) of sub-Article (3) above, the National Petroleum Commission shall include, in addition to its permanent members, representatives of oil producing state or states in which contracts for the exploration and development of the petroleum are being negotiated and considered for approval. Sharing Oil Revenue 192 (1) The framework for sharing wealth from the extraction of natural resources, emanating from Southern Sudan shall balance the needs for national development and reconstruction of Southern Sudan. (2) Net revenue from oil shall be the sum of the net revenue:(a) from exports of government oil, and (b) from deliveries of government oil to the local refineries. (3) Exports shall be valued at the actual Free on Board export prices less the charges to deliver the oil to any export destination including pipeline and management charges. Oil delivered to the local refinery shall be valued at the average Free on Board export prices during the last calendar month in which there was an export sale less the charges that would have been incurred to deliver the oil to any export destination including pipeline and management charges. (4) An Oil Revenue Stabilization Account shall be established from government oil net revenue derived from actual export sales above an agreed benchmark price. The benchmark price will be established annually as part of the national budget. 81

اختر الفقرة المستهدفة3

الاتصال بفقرة
Connect to an entity
Disable highlights
أضف إلى جدول المحتويات