• 3 minutes Could Venezuela become a net oil importer?
  • 7 minutes Reuters: OPEC Ministers Agree In Principle On 1 Million Barrels Per Day Nominal Output Increase
  • 12 minutes Battle for Oil Port: East Libya Forces In Full Control At Ras Lanuf
  • 3 hours Oil prices going Up? NO!
  • 1 day Could Venezuela become a net oil importer?
  • 7 hours Reuters: OPEC Ministers Agree In Principle On 1 Million Barrels Per Day Nominal Output Increase
  • 3 hours Tesla Closing a Dozen Solar Facilities in Nine States
  • 2 hours Renewables to generate 50% of worldwide electricity by 2050 (BNEF report)
  • 5 hours Could oil demand collapse rapidly? Yup, sure could.
  • 1 day Gazprom Exports to EU Hit Record
  • 2 hours Oil prices going down
  • 1 day EU Leaders Set To Prolong Russia Sanctions Again
  • 1 day Why is permian oil "locked in" when refineries abound?
  • 1 day Oil Buyers Club
  • 2 days Saudi Arabia plans to physically cut off Qatar by moat, nuclear waste and military base
  • 2 hours Saudi Arabia turns to solar
  • 1 day EVs Could Help Coal Demand
  • 2 days China’s Plastic Waste Ban Will Leave 111 Million Tons of Trash With Nowhere To Go
  • 20 hours Russia's Energy Minister says Oil Prices Balanced at $75, so Wants to Increase OPEC + Russia Oil by 1.5 mbpd
Alt Text

New Players Enter The European Gas Game

With the expansion of the…

Alt Text

A Storm Is Brewing In The Southern Gas Corridor

While Russia looks to circumvent…

Alt Text

The Battle For Libyan Oil Is Heating Up

Libya's fragile political balance could…

Editorial Dept

Editorial Dept

More Info

Trending Discussions

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…

To read the full article

Please sign up and become a premium OilPrice.com member to gain access to read the full article.

RegisterLogin

Trending Discussions





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