By NY Staff
Recently, an oil derivatives crisis appeared because of the detention of oil tankers by elements backed by tribes in Haraz. Yemen Petrol Company has pumped 1.25 million liters to Sana’a aimed at ending the crisis that was created by some people in the purpose to achieve financial gain and political objectives affecting overall stability.
Yemen Petrol Company said that gasoline has started to reach the company premises in the Subaha area, and that they are now working to deliver it to stations according to their need and general distribution. The company assured that it will continue to pump more than one million liters to Sana’a per day.
The company advised citizens not to overcrowd at petrol stations, because there is no intention to raise prices at the moment. It is well known that the World Bank and its donors are pressuring the Yemeni government to lift subsidies on oil derivatives.
Minister of Oil and Minerals Khaled Bahah arrived in Paris on a visit to discuss ways to improve gas prices with French investment group Total in 2014. Yemen produces five million metric tons of liquefied natural gas per year, and sells two million to Total. The Yemeni government has the right to disburse the sale of the remaining amount for local use after international buyers, which amounts to one million tons.
Bahah is pushing Total Company to modify the sale price of Yemen Gas (LNG), which has already been discussed with the Korean company Kogas. Total is choosing between globally speculated prices, and the one agreed with Kogas which is $14/million BTUs.