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Oil Report

Egypt, Ethiopia, Sudan to finalize agreement on Blue Nile dam later this month

WASHINGTON, Jan 15 (Reuters) - Ministers from Egypt, Ethiopia and Sudan have agreed to reconvene in Washington later this month to finalize an agreement on a giant hydropower dam on the Blue Nile that sparked a diplomatic crisis between Cairo and Addis Ababa.

The ministers met in Washington this week and agreed to fill the $4 billion Grand Ethiopian Renaissance Dam (GERD) in stages during the wet season, taking into account the impact on downstream reservoirs, the U.S. Treasury Department, which hosted the meeting, said in a statement. (Reporting by Daphne Psaledakis Editing by Chris Reese)

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