SABA - Yemen news agency

Print date: 15-12-2017
Article link: http://www.sabanews.net/ar/news383790.htm
  Economy
Yemen's oil revenues fall to $ 1.5 billion in 2014
[10/January/2015]

SANA'A, Jan. 10 (Saba) – Yemen’s revenues from oil exports reached $ 1.580 billion during (January - November 2014), with a big decrease amounted to $ 892 million compared with the same period in 2013.

A recent report issued by the Central Bank of Yemen (CBY) attributed the accelerated decline in the revenues to the decline in Yemen's share of oil exports, which reached $ 15.4 million barrels during the same period, with a decrease estimated at $ 7.2 million barrels from the same period in 2013.

The subversive attacks on the oil pipeline between Mareb fields and Hodeidah refineries have caused the decline in the exports amount and in the domestic market share of fuel.

According to the report, the oil quantity allocated for the domestic consumption reached $ 19.5 million barrels during ( January –November 2014) , recording a decrease of $ 2.2 million barrels.

The government has resorted to import large quantities of oil derivatives from abroad to meet the needs in the domestic market.

The report pointed out that the government imported oil derivatives in last November with nearly $ 223 million, bringing the value of the imported oil derivatives during the past 11 months to $ 1.993 billion, which was paid by the CBY.

HA/BA