• 4 minutes Why Trump Is Right to Re-Open the Economy
  • 7 minutes Did Trump start the oil price war?
  • 11 minutes Covid-19 logarithmic growth
  • 15 minutes Charts of COVID-19 Fatality Rate by Age and Sex
  • 18 minutes China Takes Axe To Alternative Energy Funding, Slashing Subsidies For Solar And Wind
  • 5 hours Dr. Fauci is over rated.
  • 16 hours Dept of Energy ditches plans to buy Crude Oil for SPR
  • 51 mins China extracts record amount of natural gas from Gas Hydrates in South China Sea
  • 2 hours Western Canadian Select selling for $6.48 bbl. Enbridge charges between $7 to $9 bbl to ship to the GOM refineries.
  • 5 hours Where's the storage?
  • 3 mins TRUMP pushing Hydroxychloroquine + Zpak therapy forward despite FDA conservative approach. As he reasons, "What have we got to lose ?"
  • 2 hours Oxford Epidemiologist: Here’s Why That Covid-19 Doomsday Model Is Likely Way Off
  • 1 day Trump to New York - DROP DEAD!
  • 16 hours Wastewater Infrastructure Needs
  • 1 day Analysis into the Iran Outbreak
  • 17 hours >>The falling of the Persian Gulf oil empires is near <<
Gasoline Futures Fall To $0.50 As Demand Plummets

Gasoline Futures Fall To $0.50 As Demand Plummets

Gasoline futures have plummeted to…

COVID-19 In A Civil War

COVID-19 In A Civil War

Why Haftar Isn’t Going to…

Militant Attacks on Pipelines Cost Yemen $4 Billion in Lost Revenues

Militant Attacks on Pipelines Cost Yemen $4 Billion in Lost Revenues

Last year political turmoil in Yemen caused the GCC to step in and broker a deal which called for the president Ali Abdullah Saleh to step down and hand power to his deputy Abdrabbuh Mansour Hadi. Since that time militant groups have led repeated attacks against oil pipelines costing the Middle Eastern nation an estimated $4 billion in revenues.

The Safer-Ras Issa pipeline has been the target of the attacks. It is the main pipe for carrying oil from the Marib fields, and has been in operation since February 2011.

Yemen is one of the poorest countries in the Middle East, and has a production capacity of 250,000 barrels per day. The $4 billion in lost revenue would have been very important for developing the nation.

Hisham Sharaf Abdullah, the Minister for Petroleum and Minerals, warned the state Saba news agency that, “the halting of oil production from the Safer-Ras Issa pipeline will almost destroy the economic potential of Yemen.”

The government and political leaders are doing all they can to repair and reopen the pipeline before the start of Ramadan near the end of July.

By. Joao Peixe of Oilprice.com



Join the discussion | Back to homepage




Leave a comment

Leave a comment

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