Director of the Oil Company: Al-Houthi brought down the economy and liberalization of derivatives was a mistake, and revenues must be unified
English - Wednesday 06 October 2021 الساعة 04:21 pm
Aden, NewsYemen:
Dr. Saleh Al-Jariri, General Manager of the Aden Oil Company, considered Al-Houthi to be primarily responsible for the economic crisis.
Al-Jariri said, in an interview with Al-Ghad Al-Mashriq channel, that the crisis of oil derivatives emerged after the war launched by the Houthi coup militia on Aden in the year 2015, and it has many causes, the first of which is the seven-year-old ferocious war that affected the national economy.
On the appropriate solutions to stop crises in hydrocarbons, Al-Jariri stressed that limiting the economic collapse taking place in the country and the deterioration of the national currency will stabilize the oil derivatives market.
He explained that improving the level of government revenues and supplying them to the Central Bank, adopting a monetary policy and using appropriate tools that contribute to the recovery of the national economy, are also solutions to stop the fuel crisis and its high prices.
Al-Jariri indicated that the Aden Oil Company has turned into a mediator between suppliers and citizens following the issuance of a decision to liberalize the oil derivatives market, stressing that this is what made it subject to market fluctuations, especially with the rise in global oil prices and the depreciation of the Yemeni riyal against the US dollar, as this is the main reason for the rise in fuel prices.
The Director General of the Oil Company stressed the need for government intervention to support the oil sector and restore fuel subsidies to avoid collapse in this important sector, which controls the rest of the sectors, explaining that government interventions may be in the form of exempting or reducing taxes and customs on oil shipments.
Al-Jariri indicated that the relationship between the two oil companies and the refineries is complementary, and therefore the oil company was affected by the Aden Refineries suspension, noting that restarting the refinery will have a significant positive impact on various fields, sectors and institutions, foremost of which is the Oil Company.
He said that the Aden Oil Company is working to provide services to citizens at the lowest costs and in many cases bears large losses, although it has no hand in the rise in prices, stressing the need for government intervention to support the company and facilitate its work.
He stressed that the Aden Oil Company has an action plan to monitor the local market and control violations, in addition to a strategic plan to restore the company's leading role, as it begins by developing the company's administrative work by introducing new technologies, rehabilitating workers and employees, and setting up training programs at the company's training and rehabilitation center.
He also revealed great efforts by the Governor of Aden, Mr. Ahmed Hamed Lamlas, to provide fuel to citizens at the lowest prices, as he held several meetings with the leadership of the oil company first and then with suppliers to search for solutions that guarantee the provision of services to citizens at reasonable prices.
At the end of the meeting, he called for everyone's cooperation to get out of this crisis and support the efforts of Governor Ahmed Lamlas, reiterating that the oil company is working to provide services to citizens at the lowest prices and not to leave the field open without accountability or supervision.
