Oil Minister: Yemen on the brink of collapse
Yemen’s oil minister said his country is on the brink of an imminent economic collapse due to recurrent bomb attacks on oil pipelines and ongoing social unrest.
“Acts of sabotage on the oil pipeline in Wadi Ubaida in Marib province have hampered the flow of oil since mid-March and undermined the confidence of foreign investors in the country,” said Amir Salim Al-Aydarus.
“Several foreign oil companies have quit the country and the refineries in the southern province of Aden came to a standstill a week ago,” Al-Aydarus told members of the Yemeni parliament.
Yemen eyeing crude imports from Saudi
Yemen is in talks to import crude oil from Saudi Arabia, a senior official said yesterday as the poorest Arab nation struggles to tackle its fuel crisis with nearly half of its oil production shut. A blast in March on Yemen’s major oil pipeline, suspected to have been launched by angry tribesmen, has stopped the flow of light Marib crude, forcing its 130,000 barrels-per-day Aden refinery to shut and triggering a nation-wide fuel shortage. By importing crude oil, we would keep the Aden refinery going,’ a senior official, who declined to be named told Reuters
Yemen’s fuel shortage
Total says Yemen oil production disrupted by pipeline blast
Yemeni news website Marib Press reported March 15 that armed men caused an explosion that damaged the pipeline, which pumps 120,000 barrels a day. Production from two oil fields was halted as a result, according to the website. The blast would be the second on an energy facility in Yemen in five months, following an explosion on a crude pipeline in November.