China will provide South Sudan $8 billion in development loans over the next two years, a government spokesman said.

South Sudan is negotiating loans to boost the value of its currency and keep its economy afloat as foreign-exchange reserves decline after the country halted oil production, Deputy Finance Minister Marial Awou Yol said.

Things are shaping up for a major row at Lundin Petroleum’s shareholder meeting on Thursday. Among others, Folksam is demanding an independent enquiry into the company’s actions in Sudan. The company is refusing point-blank and is supported by Första AP-fonden and AMF.

South Sudan is ready to negotiate an agreement on an oil dispute with Sudan that prompted the newly independent nation to shut down its crude production, Cabinet Affairs Minister Deng Alor said.

In a unique action several major shareholders in Lundin Petroleum are demanding an independent enquiry into the company’s operations in southern Sudan.
The company is exhorting them to shut up or sell up.

The criminal investigation into Lundin Petroleum has now spread to the USA.
“I am questioning people here, says public prosecutor Magnus Elving.
At the same time a row is brewing between the major shareholders at the AGM today.

Today’s AGM of Lundin Petroleum is expected to be stormy. Folksam is demanding a review of the company’s previous activities in Sudan, but is meeting with opposition from the board and other shareholders. Among others, Första AP-fonden is intending to vote against the proposal.

Lundin Petroleum is being investigated for crimes against international law in the Sudan 10 years ago. Of more immediate interest is the fact that another Lundin company – the share price skyrocketing Africa Oil – has operations in Ethiopia, which is deeply worrying as regards human rights.

The management of Lundin Petroleum is not intending to respond to demands for an independent scrutiny of the company's earlier operations in Sudan. Several major shareholders are now preparing for a fight before Thursday's annual general meeting. They consider that the company has adopted an arrogant attitude.

Lundin Petroleum rejects demands for an independent enquiry into the oil company's activities in Africa. “Trust us or sell your shares,” says CEO Ashley Heppenstall to Dagens industri.