New batch of Saudi oil derivatives arrives at Al-Mahra Governorate

Declining Oil Prices Put Pressure On Contracting Market

A new batch of Saudi oil derivatives grant provided to the Republic of Yemen arrived in Al-Mahra Governorate, amounting to 5,500 metric tons of diesel that will feed the power plants in Al-Mahra Governorate.

The batch includes 4,000 metric tons shipped by sea, and 1,500 metric tons shipped by road transport.

The shipments were received by the Governor of Al-Mahra Muhammad Ali Yasser and Eng. Abdullah Basliman, director of the Saudi Development and Reconstruction program for Yemen (SDRPY) in Hadramout and Al-Mahra governorates, and representatives of the Yemeni Oil Company, the Electricity and Energy Company in Yemen.

The grant contributes to alleviating the burden on the budget of the Yemeni government, to reduce the depletion of hard currency by the Central Bank of Yemen to purchase oil derivatives from international markets, to raise and improve the productive power, lives of the Yemeni citizen, improve the impact on the economic, health, educational and service fields, and to reduce frequent power outages that affect daily living.

The SDRPY worked with the Yemeni government to develop integrated governance mechanisms for oil derivatives. The Yemeni government has formed a supervision, oversight and follow-up committee from all relevant Yemeni ministries and authorities and linked it to an executive program and a control mechanism that ensures that grants reach beneficiary stations with high reliability to ensure actual access to beneficiaries, and to ensure the use of oil derivatives for what they are allotted.

The joint committee has scheduled the shipments of the Saudi oil derivatives grant, which contributes to helping the Yemeni government direct its expenses, and to use of the sums that were allocated for the purchase of oil derivatives to support the item of civil servants’ salaries.

The Saudi Program for the Development and Reconstruction of Yemen in Aden is among 198 development projects and initiatives that it has implemented in various Yemeni governorates to meet the needs of the Yemenis in seven basic sectors: education, health, water, transportation, agriculture, fisheries, and to raise capacity building of government institutions.