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FinancialNews


  • 12-02-19

    Yemen targets crude production, export hikes

    (MENAFN) Yemen is targeting a hike in its crude output this year to reach 110,000 barrels per day (bpd), while aiming for its crude exports to stand at around 75,000 bpd.

    Yemeni oil minister Aws Abdullah al-Awd affirmed that "we will maintain production from four blocks and are planning to build a pipeline to Arab Sea (Arabian Sea) to resume exports from these blocks."

    It comes while Yemen has been struggling with an oil production crisis since 2015, after a Saudi-led coalition imposed an intervention in the war.

    Last year, the country produced around 50,000 bpd of crude from the 127,000 bpd generated back in 2014.

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