Yemen oil exports up
The Yemeni government's share from oil profit increased to 4.7 million barrels, which worth $1.9 billion during the last eight months compared to the same period of 2005.
In 2005, oil exports reached 38.7 million barrels valued $1.925 billion. According a report by the Central Bank of Yemen, the quantity of government's share increased by 14.81% and 52.41% of its prices due to the rise of oil price in the world markets, in addition to the increase of exported quantity. The report said that the average price of Yemeni crude oil amounted to $ 65.6 per barrel rising from $49,43 for the same period in 2005. The profit share of crude oil exports which Yemeni government receives from production shares, according to partnership agreements with foreign oil companies reached 63% of the total exports of the country and 70% of state general budget and 30% of the Gross Domestic Product (GDP)