Yemen Oil Take Slumps

Increased fighting in Yemen in recent months, involving Islamic militants, tribesmen and government forces, and persistent attacks on key oil and gas infrastructure has taken a heavy toll on government finances.

The latest came on 6 November with an attack on the main export pipeline in the area of Sirwah in the Marib province, halting flows to export facilities on the Red Sea. These attacks are believed to be carried out by disgruntled tribesmen in order to pressure the transitional government to provide them with jobs, settle land disputes or free jailed prisoners.

The value of oil exports in the first eight months of 2014 fell by 33% to $1.216bn from $1.811bn in the same period of 2013, the Central Bank of Yemen (CBY) said in its latest Monthly Statistical Bulletin. (CONTINUED - 386 WORDS)