• 3 minutes This Battery Uses Up CO2 to Create Energy
  • 5 minutes Shale Oil Fiasco
  • 9 minutes Don't sneeze. Coronavirus is a threat to oil markets and global economies
  • 12 minutes Historian Slams Greta. I Don't See Her in Beijing or Delhi.
  • 8 hours Boris Johnson taken decision about 5G Huawei ban by delay (fait accompli method)
  • 10 mins China gets caught?
  • 6 hours Demand for Diesel vs. Oil
  • 2 days Governments that wasted massive windfalls
  • 20 hours Which type of Hegemony will China follow
  • 11 hours Yesterday POLEXIT started (Poles do not want to leave EU, but Poland made the decisive step towards becoming dictatorship, in breach of accession treaty)
  • 2 days Here is Why People Lose Money Trading Natural Gas
  • 2 days We're freezing! Isn't it great? The carbon tax must be working!
  • 12 hours Environmentalists demand oil and gas companies *IN THE USA AND CANADA* reduce emissions to address climate change
  • 1 day Tesla Will ‘Disappear’ Or ‘Lose 80%’ Of Its Value
  • 2 days Let’s take a Historical walk around the Rig
  • 2 days US Shale: Technology

Breaking News:

Oil Prices Rise On Surprise Crude Draw

Alt Text

Speculators Are Dragging Down Natural Gas

It seems that fundamentals can…

Alt Text

How Low Will The Coronavirus Send Oil Prices?

In today’s oil market it…

Economywatch

Economywatch

On EconomyWatch.com, you will find a comprehensive mix of news, analysis, reference, articles, data, charts and tools. These have been provided both by our core…

More Info

Premium Content

Yemen Petrol Crisis Causing Further Social Unrest

Socio-economic problems have erupted in Yemen as the petrol crisis enters into its fifth month with little to no end in sight.

The Yemeni oil industry, which is the country’s largest source of income, came under attack by Yemeni tribesman in March this year with political leaders both for and against Yemeni President Ali Abdullah Saleh accusing each other of backing the armed tribesmen.

The Yemeni President himself was injured in an assassination attempt on June 3rd and is currently recuperating in Saudi Arabia.

However, recovery efforts within the nation continue to struggle as the government considers military action in order to retake control over tribe-controlled areas that oil pipelines in need of repair.

In the meantime, Yemeni citizens have been lining up at petrol stations waiting for an opportunity to pump some gas.

The National reports that queues for petrol have been as long as three miles while some Yemenis have been forced to either wait for more than a week in front of petrol stations or purchase their petrol in the black market for more than six times the normal price.

According to the Yemen Post, the severe shortage of petrol in Yemen has led to violence on the streets as people squabble among each other at petrol stations all over the country.

“Three people were killed and at least eight others injured in conflicts at filling stations where thousands of cars have been parked for long time, some for almost two weeks, waiting for petrol or diesel.

In other provinces including the capital Sana'a, several people were injured in conflicts at filling stations; some as powerful people using guns tried to fill their cars before those who have been queuing.”

The Studies and Economic Media Center estimate that the oil crisis may have generated nearly US$1.3 billion in losses for the oil industry alone.

According to The National, thousands of jobs have also been lost because people simply cannot get to work.

While Acting President Abd-Rabbu Mansour Hadi have pledged to repair the damaged oil pipeline within the coming days, conflicts in the country are unlikely to end as violence continue to escalate between political factions.

“The ruling party is in control of Yemen but the opposition is in control of the oil,” said Mohammed Qahtan, spokesperson for the opposition Joint Meeting Parties.

Source: Economywatch




Download The Free Oilprice App Today

Back to homepage




Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News
Download on the App Store Get it on Google Play