SANA'A, Dec. 27 (Saba) - Yemen Petroleum Company (YPC) plans to start importing oil derivatives in a move that will save tens of millions of dollars annually to the state treasury.
The oil products importation has been carried out by Aden Refinery Company for many years.
YPC started this move recently by announcing an international tender for importing petroleum products through its storage facilities in the ports and the provinces to cover part of the local market needs for the period (February-March- April).
"Importing oil derivatives directly by YPC will provide to the state treasury about $ 25 million monthly, which was spent for storage and transport charges and others", YPC's Executive General Manager Ali al-Taifi told Saba.
Al-Taifi explained that the company is intend to set up facilities to increase the storage capacity of petroleum materials, including a petroleum facility with a capacity of 105 tons in Ras Issa Port, Hodeida province, at a cost of $ 41.5 million.
The YPC has several ports and tanks in a number of provinces, which qualifies it to be the main importer of fuel in the country.