Oil production in Yemen has risen to 71 thousand barrels per day
English - Tuesday 04 January 2022 الساعة 03:48 pm
Aden, NewsYemen, special:
Yemen's production of crude oil rose to 71 thousand barrels per day, as of August 2021, according to what was published by the "Trading Economist" website on the US Energy Information Administration.
The increase in Yemen's production of crude oil last year, from 55 thousand barrels to 71 thousand barrels per day, came as a result of the resumption of production in some productive sectors in the governorates of Shabwa and Marib.
Oil revenues constitute 60% of the state budget resources, 63% of the country's total exports, and 30% of the gross domestic product.
The government’s revenues from oil revenues in 2021 are estimated at about two billion dollars, but the government refrains from declaring the value of the revenues from oil sales, which caused donors to refrain from providing financial aid to Yemen, due to the lack of transparency.
Oil revenues constituted the largest inflow of foreign currency into Yemen. According to official reports, Yemen was producing 127,000 barrels of crude oil per day before 2015.
In November 2021, figures show that the Hadramawt, Shabwa and Marib oil fields generate an income of $156.5 million, according to a statement by United World International.
