Yemen's oil revenues hit $2.6bn in 2008

Yemeni oil export revenues reach $2.6bn, more than double the figure for same period in 2007.
Yemen's oil revenues hit $2.6bn in 2008
By Amy Glass
Sun 27 Jul 2008 10:08 AM

Yemen’s oil export revenues hit $2.6 billion in the first half of 2008, up from $1.2 billion for the same period in 2007, state news agency Saba reported on Saturday.

A report published by the Central Bank of Yemen attributed the increase to a boost in oil production to 23.75 million barrels, compared to 20 million barrels in the same period of 2007.

The price surge was further hiked by the oil price rise to an average of $112, compared to the 2007 figure of about $62.

Yemen oil production currently ranges between 300,000-350,000 barrels per day, the report said, with the nation operating 87 oil blocks and 26 exploratory blocks by 16 oil companies.

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