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.
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