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[21 April 2018]
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  Saudi Aggression War against Yemen
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Yemen loses $ 383 mln due to oil pipeline sabotage in 2014

SANA'A, May 08 (Saba)- Yemen has lost $ 383 million during the first quarter of 2014 due to the sabotage attacks on oil pipeline, an official report said.

Data ,released by the Central Bank of Yemen (CBY) and seen by Saba, pointed out that the government's share ,as a result of those attacks, fell to about 3.1 million barrels during the period, compared to 6.8 million barrels in the corresponding period of 2013, with a decrease of 3.3 million barrels.

Accordingly, Yemen's revenues from the value of exports decreased during the first quarter of 2014 to $ 348 million compared to about $ 731 million during the corresponding period of the last year , with a decline of $ 383 million.

The largest decline in Yemen's revenues from oil exports was recorded last March, as the government did not reap only $ 44 million.

The central bank said that the quantity exported in March, did not exceed 396 thousand barrels of the total 1.42 million barrels was supposed to be exported during the same month, but the sabotage attacks caused the delay in shipping the rest of the quantity until the first of Apri.

The bank said that the sabotage assaults resulted in reducing the quantity of oil allocated for domestic consumption to 4.9 million barrels during the first quarter of this year, with a decline of 1.25 million barrels from the same period in 2013.

The government ,often, resort to cover such a deficit by hiring Aden Refinery Company to import petroleum products from abroad, while the Central Bank shall cover the import bill.

The value of the imported quantity of the oil products amounted, during the first three months of this year, to $ 746 million.

  more of (Economy)
UPDATED ON : Sun, 22 Apr 2018 14:39:35 +0300