Economy

Yemen’s banks deteriorate as the economy collapses

Sat, 02/28/2015 - 11:28

Fears of economic collapse are causing Yemeni citizens to withdraw their US dollar savings from banks and keep the dollars at home. Yemen is facing economic collapse for several reasons:

Yemen oil revenues drop almost $1 bn in 2014

Sun, 02/22/2015 - 01:10

Yemen suffered a drop of around $1 billion, or 37 percent, in revenue from oil exports last year due to nosediving crude prices and the sabotage of pipelines, the central bank said Saturday.

Yemen airline ordered to pay millions over 2009 crash

Thu, 02/19/2015 - 21:26

Aix-en-Provence, France: A French court Thursday ordered Yemenia airline to pay more than 30 million euros ($34 million) in damages to the families of victims of a deadly 2009 crash off the Comoros

Yemen on brink of economic disaster as crisis escalates, analysis

Thu, 01/29/2015 - 19:12

Yemen is on the brink of a real economic disaster after the Shiite Houthi group tightened its grip on power and the government was paralysed by years of political struggle since the 2011 upheaval,

Calgary-based oil producer Calvalley taking no chances in Yemen

Wed, 01/28/2015 - 23:18

Calgary-based oil producer Calvalley Petroleum Inc. isn’t taking any chances when it comes to protecting its people and production in Yemen.

WFP to continue to support Yemen addressing food shortage

Thu, 01/22/2015 - 20:17

The World Food Programme (WFP) is committed to assist Yemen's efforts aiming to address the food shortage problem, the WFP Regional Director said Thursday.

Output stopped at Yemen's Masila oilfields in Hadramout

Mon, 01/19/2015 - 21:17

Oil companies in Yemen's Hadramout and Shabwa provinces, including the main gas export facility at Belhaf, have suspended operations amid protests over the seizure of a presidential aide by Shi'ite

Yemen eastern province to halt oil flow unless president’s chief staff freed

Sun, 01/18/2015 - 19:49

The governor of Yemen's Shabwa province warned Sunday that oil companies will turn off their taps at midnight unless Shiite militiamen in control of the capital free a presidency official.

OMV Aims to Boost Yemen Output to 30,000 BPD if Conditions Allow

Wed, 01/14/2015 - 01:13

Austrian energy group OMV wants to boost its oil output from Yemen by half if conditions allow, a senior executive told Reuters on Tuesday.

Yemen's Aden refinery seeks 900,000 t gasoil, gasoline

Thu, 01/08/2015 - 22:27

 Yemen's Aden Refinery Company is seeking 900,000 tonnes of gasoil and gasoline for delivery in February to April, continuing its purchases since Saudi Arabia suspended most of its financial aid to

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