Weekly MENA Newsletter will be delivered to your email in PDF format every Friday (52 Issues per Year).
Yemen’s oil export revenue for the first five months of 2014 was a mere $671mn, down close to 40% on the same period last year. San’a typically relies on oil export revenues to finance up to 60% of its budget.
Given average international prices of $110/B Yemen’s Masila Blend crude, the Jan-May earnings figure implies exports of just 40,000 b/d. For May the picture was even worse, with government revenues from oil exports of just $73.4mn, according to latest figures released by Yemen’s Central Bank, down a massive 64% on the corresponding month last year. The May figure implies oil exports of just 21,500 b/d.
DON'T HAVE AN ACCOUNT?
NEED TO UPGRADE YOUR CURRENT SUBSCRIPTION?
By upgrading your Print or Digital subscription you will gain access to the MEES Archives Database with past articles and data dating back from 1984.UPGRADE