Yemen restarts main oil export pipeline after repairs

May 30, 2014 - 12:58:53 pm
SANAA: Yemen has resumed crude oil flows on Friday after repairs to its main export pipeline following an attack by tribesmen this month, an industry source said.
 
Yemen's oil and gas pipelines have repeatedly been sabotaged by insurgents or tribesmen since anti-government protests created a power vacuum in 2011, causing fuel shortages and slashing export earnings for the impoverished country.
 
On May 15, tribesmen in the central Maarib province blew up the pipeline, which carries around 70,000-110,000 bpd of Marib light crude to an export terminal on the Red Sea.
 
"The technical teams have completed the repairs in Maarib and left the area escorted by security forces," the Interior Ministry said late on Thursday. 
 
Frequent attacks on the crude pipeline has cost Yemen around $400 million in lost revenue in the first quarter of 2014, the ministry said on its website.
 
Yemen, one of the Arab world's poorest countries, is struggling to restore state authority after long-serving President Ali Abdullah Saleh was forced to step down in 2011. 
 
It relies on crude exports to bolster foreign currency reserves and finance up to 70 percent of government spending. (Reuters)
comments powered by Disqus