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Yemen’s oil exports earnings dropped below fuel imports bill in 2013

: Wednesday, February 12 - 2014 @ 00:07

According to data from Yemen’s central bank, the country’s rising fuel import bill has surged past its declining revenues from oil exports in 2013, putting increasing pressure on government finances, Reuters has reported. Yemen’s oil product imports more than doubled to 18.4 million barrels in 2013 at a cost of $2.93bn, while the government’s oil revenues slumped by $833m to $2.66bn, the figures showed. Yemen’s average oil export price was $114.59 a barrel last year, up from $111 in 2012, the bank said.

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Wednesday, February 12- 2014 @ 0:07 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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