Yemen: Saudi diesel grant covers two months

By REUTERS
December 31, 2011 09:38

 
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SANAA - Yemen's oil minister said on Saturday that a grant of diesel from Saudi Arabia would be enough to cover the country's needs for two months.

"Yemen's diesel consumption is 260,000 tonnes monthly worth $280 million," oil minister Hisham Sharaf told Reuters.

"We sell it at 25 percent of its cost because of the government subsidy on diesel. The Saudi grant will cover Yemen's diesel needs for two months."

He said production at the Masila oilfield, now under Yemeni administration after Canada's Nexen had one of its production contracts expire without renewal, was 70,000 barrels per day.

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