Aden gov. to sell the largest oil sectors in Yemen

A report published by Al-Arabi Al-Jadeed newspaper revealed that legitimate government is heading to “sell 50% of the largest oil fields in the country.” Represented in Sector 18 that belongs to Safer governmental company in the eastern regions in Marib and Al-Jouf province, in conjunction with Sanaa’s forces approaching to Marib city.

The newspaper quoted on sources preferred not to be disclosed, that some parties in the Yemeni government, did not name it, seek to exploit the ongoing concern with Corona virus and complete the negotiations that took place recently in the Jordanian capital Amman,  to end the sale of the largest oil fields and one of the most important sources of income in the country, with international oil companies operating in Yemen.

According to the newspaper some sources talked that Moein Abdul Malik government seek through this step besides searching on other steps, negotiated with other international parties is seeking, to obtain a loan of $ 2.5 billion to be placed as a deposit in the central bank in Aden after Saudi Arabia’s slowdown in renewing the deposit, in exchange for paying the crude oil revenue to pay off the loan.

The Minister of Oil in the legitimacy government, Aws al-Oud, revealed in press statements last week, on oil ministry direction to offer oil sectors for investment in front of foreign companies.

The eighteenth oil sector is the largest among the oil exploration sectors in Yemen, Its production reaches on average, before the war in 2014, to one hundred twenty seven thousand barrels per a day, which represents 70% of the country’s revenue.