AL-TAREEQ: Aden weekly, 30-6-98. [Archives:1998/27/Press Review]
(Independent) Main Headline:
1- Ministry of Interior issues a special application form to be filled-in by people wishing to demonstrate.
2- Two senior members of the Yemeni Socialist Party were detained for 3 days as a precautionary measure against possible involvement in demonstrations.
3- US is trying to make Yemen pay for supporting Iraq during the Gulf crisis.
Aden Oil Refinery Privatization
Ever since it was handed by the British to the local Yemeni administration in in 1982, not much change or development was made to the Aden Oil Refinery. It continued to operate with ’50s technology. All efforts to modernize the refinery failed due to lack of funds and proper planning.
In 1992, about $350 million were estimated to be needed for the modernization process, but the bidding companies demanded exorbitant guarantees, including getting part of the oil revenue.
The Aden Oil Refinery’s debts of about $85 million will not be conducive to its proposed privatization.So who is going to benefit if the government goes ahead with the privatization plans? And hasn’t it published the decision to privatize in the official media?