Aramco has started supplying fuel to Sudan, as the Sudanese Ministry of Energy hopes to reach a long-term agreement with the Saudi company soon.
The Sudanese Ministry of Energy said its agreement with Aramco refers to the supply of oil and fuel derivatives at preferential prices.
A delegation of Saudi officials and companies went for sudan for two days to hold talks on potential investments in sectors such as agriculture, energy, mining and technology.
“Energy specialists from the two countries signed a memorandum of understanding (MoU) for energy in general, and the targeted agreement with Aramco aims to secure stable and sustainable supplies of oil derivatives for Sudan,” the ministry said in a statement.
The ministry said that the agreement was discussed against the background of Sudan’s recent liberalization of the fuel market, adding Saudi-based ACWA Power is also looking forward to investment opportunities in renewable energy.
Sudan News Agency (SUNA) reported that the talks also dealt with projects for producing gum arabic, planting crops, livestock, and building infrastructure.
The total investment projects proposed by the Sudanese government to the Saudi side amounted to 124 projects in various fields, including 77 projects for partnerships between the private and public sectors, and 47 projects for investment.
The transitional government in Sudan is seeking to extricate the country from a deep economic crisis that sparked the protests that toppled former President Omar al-Bashir in 2019, and continued after his overthrow.
The crisis has seen severe shortages of fuel and other basic commodities, although the fuel shortage has eased recently.
In a related context, the Sudanese-Saudi Investment Forum was launched on Sungay in the Sudanese capital, Khartoum, to discuss investment opportunities and create a development environment between the country.
The Sudanese-Saudi Investment Forum aims to create several economic fields and increase trade exchange between the two countries.
A number of Sudanese and Saudi ministers will participate in the forum, most notably the Saudi Minister of Environment, Water and Agriculture, Abdul Rahman bin Abdul Mohsen, in the presence of the ministers of the economic sector in the Sudanese government, as well as a number of Saudi businessmen and their Sudanese counterparts, chambers of commerce and employers.
In turn, the Sudanese Minister of Finance and Economic Planning, Jibril Ibrahim, said that the investment forum is an extension of the meetings that took place in the Kingdom of Saudi Arabia.
He added that the forum discusses how to benefit from and actively participate with the Sudanese government in order to access a real reality that Sudan will present to the Kingdom of Saudi Arabia in the field of investment, for the benefit of both countries, with Sudan’s riches of multiple resources and wealth that we need to exploit in an optimal way.