Yemen aims to increase its crude oil production by 25 percent to 75,000 barrels per day in the coming months to recover from the drastically reduced output caused by the civil war.
Yemen produced around 127,000 barrels per day before the conflict and is estimated by the US Energy Information Administration to have about 3 billion barrels of oil reserves.
The civil war has shuttered its Aden refinery and damaged its infrastructure, said Aws Abdullah Al-Awd, the energy minister of Yemen's internationally recognized government under President Abdrabbuh Mansur Hadi.
Consequently, there were doubts about Yemen's ability to rehabilitate the sector soon.
According to Awd, they have put forward a plan to reexport crude oil from the Marib and Shabwa oil fields and have rehabilitated the Al-Nashama oil port on the Arabian Sea.
Yemen has two primary crude oil streams, with Marib producing light and sweet crude and Masila proving medium-gravity and more sulfur-rich variety.
The country is also creating more pipelines and raising the 600,000 barrels of storage capacity at Nashima port, which is much less than the 3 million barrels in Houthi-controlled Ras Issa port.
The minister added that with improved security and speedy recovery of global energy markets, Yemen could resume the production and exportation of liquefied natural gas from the Balhaf facility by next year.
France's Total operated the plant.


JPMorgan Cuts Gold Price Forecast, Sees Bullion Reaching $4,500 by End of 2026
Iran Begins Oil Sale Talks With Japan Under U.S. Sanctions Waiver Amid Shipping Risks
Brazil to Phase Out Gasoline Subsidy First as Diesel Support Stays Longer
Asian Markets Slip as AI Earnings Season Looms, Oil Prices Fall Ahead of Key Fed Signals
Gold Price Today: Bullion Heads for First Weekly Gain as Weak U.S. Jobs Data Eases Rate Hike Fears
Japan Signals Readiness to Act on Yen as Intervention Speculation Grows
Moody’s Says Peru’s President-Elect Keiko Fujimori Could Boost Investor Confidence
Oil Prices Slip as Oversupply Concerns and U.S.-Iran Talks Shape Market Outlook
Goldman Sachs Raises USD/JPY Forecast, Sees Yen Weakness Persist Through 2027
Asian Stocks Rebound as Tech Shares Rally on Fed Rate Cut Hopes and Easing Iran Tensions
Asia Stocks Fall as Samsung Earnings Fail to Ease AI Valuation Concerns
Gold Price Surges Above $4,120 as Weak US Jobs Data Lowers Fed Rate Hike Expectations
Oil Prices Slip as OPEC+ Boosts August Output, Oversupply Concerns Weigh on Crude Market
New Zealand Consumer Confidence Rises in June as Inflation Expectations Ease
China Services PMI Beats Forecasts as Strong Demand Supports June Growth
US Stock Futures Slip as Fed Minutes, Earnings Season Take Center Stage
US Stock Futures Rise as Investors Eye Fed Minutes, AI Stocks, and Q2 Earnings




