Middle East

Yemen

Yemen’s ongoing conflict has turned the relatively unimportant country into a regional flashpoint, and center of the Saudi-Iran showdown. IOCs, including Yemen LNG operator Total, have fled the country.

State of Play

War-torn Yemen remains a theatre for competing for Saudi and Iranian regional ambitions. But oil output is quietly creeping up. Crude exports from the eastern Marib basin restarted in August 2016 and averaged 44,000 b/d in 2017. With Austria's OMV restarting output in April 2018, an IOC presence is no longer unthinkable.

2019 In Numbers

Crude Output	0.06	mn b/d
Crude Exports	0.04	mn b/d
Oil Rig Count	0	-
Gas Rig Count	0	-

Geopolitical Risk

1 Jul, 2022

Featured

Yemen Upstream Hit By OMV Exit

Austria’s OMV is to exit Yemen. The proximate reason is a desire to reduce the share of oil in its portfolio. But chronic security problems are an underlying factor.