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FINANCIAL NEWS
Yemeni oil revenue drops in Jan.-Oct.
14 Dec 2014
(MENAFN) According to Yemen’s Central Bank, the country’s revenues from oil exports have declined during the January-October period of this year by USD800 million, when compared to the same period last year, thus reaching USD1.45 billion, KUNA reported.
The Central Bank said that the sharp decline in revenue is mainly due to the decline of Yemen’s exported oil, which reached nearly 14 million barrels during the same period, less by about 7 million barrels compared with the same period in 2013.
The decline in exports was also caused by the shutdown of several pipelines in the Maareb fields, located in the north of the country as well as the export port, located in Ras Issa Hodaida, in the western province of the country, which also affected the share of the domestic market of fuel.
Meanwhile, Yemen said that the domestic oil consumption reached around 17 million barrels during the first ten months of this year, a decrease by million barrels in comparison with the correspondent period of 2013.
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