Government of Yemen’s exiled president, Abd Rabbuh Mansur Hadi announced on Sunday, they would raising oil production capacity in Ma’rib and Shabwah, in a sign to its efforts to cover the financial deficit, in light of Saudi Arabia reduction its expenditures and STC’s seizing to the government savings in Aden central bank .
Oil minister of Hadi’s government, Aws Al-Oud said his ministry aims to raise oil production by 25%, bringing total production to 75,000 barrels by the current year.
Al-Oud announced last year his Government’s willingness to raise production to 110,000 barrels per day at the end of the year.
Al-Oud’s comments come two days after Hadi’s authorities began draining Marib oil and gas resources.
According to media reports, Hadi authorities burned 25 billion riyals of liquefied gas in order to extract oil reserves from 18-20 oil fields in Marib.
Over two days, Hadi’s authorities were able in Ma’rib province to extract more than 600,000 barrels of oil after operating the ninth torch in aforementioned fields.
Last week, the government sold about two million oil barrels through AlDhaba port, in Hadramout.
Hadi’s government takes oil revenues supplied to Saudi National Bank as a source of spending for its officials residing abroad. Saudi Arabia expenditures reduction, in addition to STC’s seizing for printed money in Aden, increased Hadi’s government’s need for funds, to pay its leaders ’expenses, who receive salaries in hard currency.