First disclosed the revenues of the General Treasury from oil export revenues

First disclosed the revenues of the General Treasury from oil export revenues

Yemen's central bank governor Mohammed Zemmam said the total value of the Masila oil in Hadramout, supplied to the central bank every two months, is about 150 million dollars, an average of 900 million dollars a year, all of which goes to energy.
He added that a $ 30 million operating budget would be allocated to Petromsila, more than $ 20 million to Hadramout and $ 50 million to electricity in Aden and neighboring areas,
"The government is about to start exporting oil from Shabwa and transferring its revenues to the central bank," Zemam said.
Oil is the main driver of Yemen's economy, accounting for 70% of budget resources, 63% of exports and 30% of GDP, and its revenues account for a large proportion of foreign exchange resources.
Since mid-August 2016, the government resumed the production and export of oil from the oil fields of Mesila in Hadramout province, but the production is still suspended in Shabwa governorate and the liquefied gas project due to lack of security protection. , Because of the oil pipeline in areas controlled by the Houthis.
Yemen is a small oil producer whose production has dropped to 105,000 bpd in September 2014 from more than 400,000 bpd before 2011.
Oil production and exports have been completely disrupted since the beginning of the war in Yemen in March 2015, after all foreign oil companies stopped their oil operations and left the country after the Huthis seized control of Sanaa in September 2014.

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