Yemen's oil earnings in January $215 million, less than fuel bill-Bank
The Source: SANA’A\Hadhramaut\Saba - Sunday -16/March/2014
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The Central Bank has said Yemen's oil revenues reached $215 million in January. The government exported 1.950 million barrels and the crude produced for local consuption was 1.380 million, the bank said on Saturday.
However, it said the oil output saw a drop in general in January because of repeated bombings of crude pipelines forcing the government to import large quantities of fuel to meet the local demand.
The fuel imports bill reached $258 million, it said.
In 2013, the bank said the fuel imports bill exceeded the oil earnings by $746 million; repeated acts of sabotage against oil projects, mainly pipelines, that had led to crude supply disruptions were to blame.
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