Local News

Yemen sees decline in oil exports share

National Yemen

Burning Qas in one of the oil fields in Yemen

By National Yemen Staff
During October 2013, the Yemeni government’s share in oil exports decreased by 86.18 million dollars as a result of the decline in its share of the exported quantity by 110 thousand barrels.
A recent report from the Yemeni Central Bank said that the value of Yemen’s petroleum imports in the products of Aden Refinery Company jumped to 248.6 million dollars during the last recorded month.
The report indicated that the total government share of the amount of oil exports during October 2013 amounted to two million barrels by 23.212 million dollars, according to the average barrel price of $106/barrel.  This marks a notable increase since September 2013, when 11.2 million barrels were sold at $64.109/barrel for a total revenue of 10.231 million dollars.
On the other hand, an official at the Commerce and Industry Chamber in Aden has warned that disaster is looming for Yemen’s private sector due to the continuation of the Aden port container workers’ strike, which has already lasted 14 days.
The Board Directors Chamber Chairman, Mohammad Omar Ba Mashmoos, said that a lot of goods have been damaged inside the containers, which in addition to the halted work at the port has caused traders significant financial losses.
An official source in Aden port recently announced the decision of three shipping lines companies to transfer their navigational lines from Aden to Djibouti and other neighboring ports due to the ongoing labor strikes.
The workers are demanding the port’s operating company to address their complaints and pay their dues.