Business

Yemen’s Oil Revenues Reached $910 Million in April

National Yemen

CPF of PetroMasila

By NY Staff

An official report issued by the Central Bank showed that the government’s share of oil revenues reached $19 million between January and April. The revenues recorded a decrease of $322 million in the same period last year. “The government’s share of oil barrels was 8 million barrels compared to 10 million barrels in 2012,” noted the report.

According to the report, the international low price of oil also contributed to the decreased share of the government. It also noted that the local market consumed around 7 million barrels of oil from January to April. The total value of oil imports reached $885 million during the first third of this year.

The Oil Ministry is trying to find new investors for the newly discovered and announced oil fields in sea and land areas. Minister Ahmed Dares also met with the delegations of Monson Rizzo Ricess  British company and Service Bao Service Russian Company to discuss investing in Yemen.

Minister Dares also directed the Authority of Exploring and Producing Oil to present all maps and data to facilitate the procedures for companies interested in investing in Yemen.