Yemen News Agency ( SABA)
Yemen's oil revenues declined to $585 mln

Yemen's oil revenues declined to $585 mln


SANA'A, Oct. 23 (Saba) - Yemen's revenues from crude oil exports has declined to $585 million during January-August 2013, totaling $1.812 billion, compared with the same period last year.

A report issued by the Central Bank of Yemen (CBY) disclosed that the revenue decline coincided with the decline of the government's share of the total production of crude oil for the same period.

It showed that the government's oil share decreased by nearly 4.5 million barrels to 16.6 million barrels total, a sharp reduction from the 21.1 million barrels total produced in the same period last year.

According to report's data, the government has imported oil derivatives by nearly $1.789 billion to cover the deficit of domestic consumption amounting to 14.340 million barrels during January-August 2013.

The repeated attacks on the oil pipeline linked production blocks in Marib province and the refinery in Hodeida affected significantly the quantity of the crude oil production of designed for domestic consumption.


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