Yemen’s 2009 oil revenues plunge to $3.52b

18 Feb 2007

(MENAFN) A report issued by the Central Bank of Yemen showed that Yemen’s oil revenues in the 2009 fiscal year fell to $3.519 billion, down from $5.896 billion for the same period in 2008, Saba reported.

Meanwhile, the report said the government’s share of crude oil exports last year dropped to $1.959 billion, compared with $4.396 billion in the 2008 fiscal year.

The value of its domestic oil consumption in 2009 increased to $1.65 billion, from $1.5 billion in 2008, said the report.

The report attributed the decline to the decrease of the government oil share to 56.8 million barrels, compared with 69.4 million barrels in the same period of 2008 as well as international reduction in the oil prices last year.

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