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Friday, 24 May 2013 12:06 am
High 14 oC - Low 7 oC
‘Oil pipeline sabotage cost Yemen $4 billion’
SANAA - Repeated attacks on pipelines since the start of the uprising that ousted president Ali Abdullah Saleh have cost Yemen more than $4 billion in lost revenues since February last year, the oil minister said in remarks published late Monday. Yemen is incurring “economic losses estimated at more than $4 billion due to a halt in pumping from the Ras Issa pipeline,” Petroleum and Minerals Minister Hisham Abdullah told the state Saba news agency. Abdullah said Yemen’s main oil export pipeline to the Ras Issa terminal on the Red Sea has been out of operation since February last year due to “repeated attacks.” Some 125,000 barrels per day normally flow through the pipeline, accounting for the bulk of Yemen’s oil exports.
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