BB Energy has loaded the first crude oil cargo after a legal dispute from South Sudan

Four?other cargoes of the 2025 deal are still being discussed

BB CEO seeks to re-establish a'mutually advantageous relationship'

Robert Harvey and Ruchika Khanna

LONDON, FEB 16 - BB Energy, a commodities trader in London has loaded the first South Sudanese crude cargo it had negotiated new terms on. The fuel was due to be delivered by 2025.

BB Energy filed a lawsuit against South Sudan last year in 'the London courts,' claiming that the country failed to deliver oil despite paying $142 million in total for five cargoes by 2025 and one by?2024. Legal documents seen by. In November, BB energy allowed the injunction against one 'South Sudanese oil shipment to expire to try and reach a'resolution with South Sudanese officials. South Sudan didn't send a representative at that London court hearing.

Kpler data shows that on Saturday, a 600,000 barrel DAR Blend shipment was loaded from Bashair near Port Sudan onto the tanker Mardan.

CONSTRUCTIVE ENGAGEMENTS WITH SOUTH SUDANESE AUTHORITIES

A spokesperson from BB 'Energy stated that the shipment was a "significant and positive milestone after constructive engagement with the highest officials at the Ministry of Finance?and the Ministry of Petroleum".

The spokesperson stated that the parties had 'jointly developed an comprehensive?repayment schedule and cargo delivery framework,' adding that more meetings would be held in Juba "in the next few days" to finalise the agreement for the remaining shipments.

BB Energy Chief Executive Mohamed Bassatne stated that the goal was to reach a comprehensive agreement?covering all remaining deliveries as'soon as' possible, and to'restore the strong, mutually-beneficial relationship' which has characterised BB Energy engagement with South Sudan over many years. (Reporting from Ruchika Kanna in Bengaluru, and Robert Harvey in London. Editing by Barbara Lewis.)

(source: Reuters)