United Arab Emirates and Yemen Discuss Oil and Gas Cooperation
The United Arab Emirates and Yemen discussed prospects for cooperation in oil and gas in Yemen Monday, the official SABA news agency reported.
"Cooperation in the area of oil and possibilities of investment between the UAE and Yemen in the area of crude and gas" were the focus of talks between Yemeni President Ali Abdullah Saleh and UAE Oil Minister Obeid bin Saif al-Nassiri, it said.
They also discussed the possibility of creating a joint company to sell crude oil and gas on the world market, it added.
Yemen, which is not a member of the Organization of Petroleum Exporting Countries, has stepped up its exploration and production sharing agreements with a number of foreign firms to bring its expected output up to 500,000 barrels per day (bpd) this year.
Its output was officially reckoned at 437,000 bpd in January - (AFP)
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