| 26 February 2024, Monday |

70,000 metric tons of Saudi oil derivatives grant arrive in Aden

The second batch of the oil derivatives grant provided by Saudi Arabia through the Saudi Program for the Development and Reconstruction of Yemen (SDRPY) arrived on Saturday at the oil port in Aden.


This comes in line with the Kingdom’s efforts to support the electricity sector, improve livelihood opportunities and back the legitimate government.


The shipment was carrying 40,000 tons of diesel and 30,000 tons of mazut. It is part of the grant agreement signed by the SDRPY in September with an estimated total value of $200 million to provide 250,000 metric tons of oil derivatives to Yemen to operate more than 70 power generation plants in the country.


The new oil derivatives are an extension of previous grants totaling $4.2 billion, the latest of which was a grant of $422 million that was completed over a year.


Director of SDRPY office in Aden Ahmed Madkhali reviewed the contributions of oil grants to the country’s economic stability, annual budget and improved general conditions and services.


He said they helped the Electricity Corporation provide the service to 760,000 subscribers and about 9.8 million beneficiaries.


In this context, Deputy Minister of Electricity and Energy Eng. Abdullah Hajar hailed the Kingdom’s support for Yemen in various stages and fields.


He underscored the importance of the Saudi grant and its direct contribution to stabilizing the electric power system and allowing large number of citizens to enjoy this service.


He pointed to the damage caused by the Iranian-backed Houthi militias’ targeting of the vital oil facilities and ports in Hadramout and Shabwa governorates.


Undersecretary of the Ministry of Electricity Abdul Hakim Fadel, for his part, praised the Kingdom’s continued generous support to Yemen in various fields, including electricity.


He affirmed that the Saudi oil grants helped the Ministry and its institutions provide the service and saved the government large sums that were allocated to buy oil derivatives.

  • Asharq Al-Awsat