Yemen Decides Not to Export Marebs Crude Oil For January [Archives:2000/51/Business & Economy]

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December 18 2000

The Yemeni Petroleum Company decided to reserve its production of Mareb crude light oil for next January. The decision came after failure of negotiations with businessmen in Singapore auction in which Yemen offered a price for January contracts less than 49 cents per Brent Crude oil in the urgent transactions while the businessmens offers were less by one dollar than the price of Brent crude oil price. Yemen sells about 800,000 barrels of Mareb crude oil every month.

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