• 3 minutes Don't sneeze. Coronavirus is a threat to oil markets and global economies
  • 5 minutes Boris Johnson taken decision about 5G Huawei ban by delay (fait accompli method)
  • 9 minutes This Battery Uses Up CO2 to Create Energy
  • 12 minutes Shale Oil Fiasco
  • 5 hours Historian Slams Greta. I Don't See Her in Beijing or Delhi.
  • 6 hours We're freezing! Isn't it great? The carbon tax must be working!
  • 1 day Indonesia Stands Up to China. Will Japan Help?
  • 17 hours US (provocations and tech containment) and Chinese ( restraint and long game) strategies in hegemony conflict
  • 5 hours Beijing Must Face Reality That Taiwan is Independent
  • 1 day Tesla Will ‘Disappear’ Or ‘Lose 80%’ Of Its Value
  • 19 hours Might be Time for NG Producers to Find New Career
  • 15 hours Trump has changed into a World Leader
  • 1 day Environmentalists demand oil and gas companies *IN THE USA AND CANADA* reduce emissions to address climate change
  • 2 days Anti-Macron Protesters Cut Power Lines, Oil Refineries Already Joined Transport Workers as France Anti-Macron Strikes Hit France Hard
  • 2 days Angela Merkel take notice. Russia cut off Belarus oil supply because they would not do as Russia demanded
  • 2 days China's Economy and Subsequent Energy Demand To Decelerate Sharply Through 2024

YEMEN: Chaotic Venue Offers Up New Exploration Tenders

YEMEN: Chaotic Venue Offers Up New Exploration Tenders

Bottom Line: Yemen is offering up new oil exploration licenses citing a great interest by foreign oil companies, but the truth is that this venue presents THE HIGHEST political risk of any venue anywhere in the world. 

Analysis: Bidding ends on 15 May and the licenses up for grabs are in the al-Sabaateen Basin, al-Rub al-Khali Basin and the Aden-Abyan Basin, according to the country’s Oil Ministry. Some of the sectors included have never been explored. There are 15 blocks (10 offshore and 5 onshore) up for auction and 20 April is the deadline for letters of intent. Earlier in April, Yemen accepted bids from nine companies for five exploration blocks.

There is massive political risk to investing in Yemen, not the least of which is the fact that the government hasn’t even come close to solidifying control over its oil resources, which will determine who can buy the most political patronage to form an authoritative leadership. Oil fields and pipelines are the key targets of attacks by various groups vying for power. Most recently, last week seven people were killed in clashes between army deserters and tribesmen in the south. Also last week, two Yemeni government soldiers were killed and two were wounded in a gunfight with tribesmen who had blown up the main Maarib oil pipeline in south Yemen two weeks after it was repaired from a previous attack. This is weekly fare for Yemen, and though the country has huge oil reserves and is strategically positioned…




Oilprice - The No. 1 Source for Oil & Energy News