Yemen's crude oil exports in February fell to 800,000 barrels, from around 2 million barrels in January as repeated attacks on oil pipelines led to halts in crude production, official new agency Saba reported Saturday, quoting a report by the Central Bank of Yemen.
"The drop in crude exports resulted in a fall in their revenues to only $89 million, down from $215 million in January," Saba reported, quoting the central bank report.
Acts of sabotage against oil pipelines also led to a decrease in the crude produced for local refineries, forcing authorities to import large quantities of oil products to meet domestic demand, according to Saba. Yemen produced only 400,000 barrels for domestic consumption in February and that was not sufficient to meet the country's fuel needs, the report said, pointing out that "the bill of the fuel imports reached $239 million in February."
The bill for fuel imports in January and February reached $497 million while the country's income from the crude exports in the two months was $304 million, the report said.
