FINANCIAL NEWS

Yemeni oil revenues drop USD1b in 2014

22 Feb 2015

(MENAFN) Yemeni revenue from oil exports dropped by USD1 billion in 2014 due to plunging crude prices and the undermining of pipelines, The Peninsula Qatar reported.

Revenues hit USD1.673 billion in 2014, compared with USD2.662 billion in 2013, according to statistics.

Attacks on infrastructure and pipelines suffered the country a loss of USD4.75 billion, according to government figures.

“The main reasons behind the decrease were the drop in Yemen’s production capacity as well as the attacks on the pipeline,” the government said.

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