Bloomberg News

Yemen Oil Exports Increase 10% in August, Central Bank Says

November 03, 2012

Yemen’s crude exports advanced 10 percent to 2.83 million barrels in August from a month earlier, the central bank said.

The value of the shipments rose 18 percent to $323.76 million and the average price for each barrel was $114.40 in the month, the Sanaa-based Central Bank of Yemen said in a report.

Banks’ reserves climbed 20 percent to 232.2 billion rials ($1 billion) from a month earlier, while loans to the private sector decreased 1.8 percent to 375.3 billion rials, it said.

Yemen, located on the southeastern tip of the Arabian peninsula and bordering Saudi Arabia and Oman, is struggling to recover from protests that weakened the central government’s authority and forced former President Ali Abdullah Saleh from power. The 320-kilometer pipeline network supplying the plant

To contact the reporter on this story: Mohammed Hatem in Dubai at mhatem1@bloomberg.net

To contact the editor responsible for this story: Dick Schumacher at dschumacher@bloomberg.net


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