Yemen oil sales surge 85%

Revenues reached $1.4bn during first four months of 2008 on record oil prices, says central bank.
Yemen oil sales surge 85%
By Claire Ferris-Lay
Sun 15 Jun 2008 12:34 PM

Yemeni oil revenues reached $1.4 billion during the first four months of 2008 compared with $789.4 million for the same period of 2007, according to the Central Bank of Yemen.

A report by the bank attributed the boost on increasing oil prices in international markets and increased oil production, according to state news agency Saba on Sunday.

Oil production during January-April, 2008 reached 14.52 million barrels, an increase of 1.06 million barrels compared with the same period of 2007.

Increase average for the two periods is estimated at 7.9% in amount and 85.2% in prince. Oil revenues in Yemen represent 70% of state revenues.

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