Yemen offers 2.5 mln Bbl Masila crude for January
The Source: SANA'A/hadhramaut.info/sabanews.net - 05/11/2010
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Yemen General Corp. for Oil and Gas has floated a tender offering 2.5 million barrels of Masila crude for January loading, a trader briefed on the tender document said.
The tender will close Friday, but bids will remain valid until Monday, he said.
The official selling price for Masila for December loading was pegged at a discount of $1.19 a barrel to Dated Brent.An increase in global crude oil prices and a growing share of production revenue on older drilling licenses helped offset further declines in domestic crude oil production during August, helping to boost the Yemeni government's official oil exports by 67.1 per cent year-on-year (y/y).According to the Central Bank of Yemen, Yemen’s share of crude oil exports exceeded 22 million barrels through the end of August compared to just 18 million barrels at the same point of 2009.
This increase in the government's share of production helped yield over US$1.7 billion in revenue from oil exports through the end of August
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