The Marib Authority refuses to supply 57 billion riyals per month to the state treasury
English - Monday 16 August 2021 الساعة 10:09 am
Marib, NewsYemen, Private:
The Capacity Assessment Organization revealed that the total monetary value of oil and gas production in Marib amounted to one million and 934 thousand and 412 dollars per day, with a total of 58 million and 32 thousand and 360 dollars per month, based on Marib prices, in March 2021.
The international organization, whose reports are based on aid organizations and decision-makers in the West, and with which the United Nations organizations cooperate, said that the volume of production of crude oil destined for export, gasoline, diesel, refined fuel oil in Marib and cooking gas based on information from a reliable source inside Yemen.
Marib Governorate, which is under the control of the Islah party, "the Muslim Brotherhood", has been refusing to supply oil, gas and non-oil revenues to the government's unified account with the Central Bank of Yemen, Aden, for more than 5 years.
The Capacity Assessment Organization mentioned in its report, "The Escalation of the Conflict in Marib and the Possible Humanitarian and Economic Effects", a copy of which was obtained by NewsYemen, detailed figures on the volume of oil and gas production in Marib.
Crude oil production and domestic fuel consumption
Currently, an estimated 18,500 barrels per day of crude oil is produced in Block 18 in Marib; 8,500 barrels per day are sent via a pipeline to the Marib refinery, while 10,000 barrels per day are exported through Al-Nashima port in Shabwa governorate.
Crude oil exports: 10,000 barrels per day from Marib x $65 per barrel (international oil price) equals $650,000 per day.
Gasoline from the Marib Refinery: 700,000 liters per day x 0.21 US dollars per liter = 144,000 US dollars per day.
Diesel and fuel oil from the Marib refinery: 650,000 liters per day x 0.71 dollars per liter equals 459,000 US dollars per day.
Liquefied petroleum gas from the Marib fields: 165,500 cylinders per day x 4.12 US dollars equal to 681,471 dollars per day.
The total daily revenues from oil and gas production sales in Marib amounted to 1,934,412 US dollars, with a total of 58 million and 32 thousand and 360 dollars per month.
Using the parallel market prices in Marib 58,032,360 dollars at 900 riyals, the dollar price, the total monthly oil and gas resources for the Marib Governorate will be 52 billion and 229 million and 124 thousand riyals.
By adding the non-oil resources of Marib, which amount to 5 billion riyals per month, the total public resources of Marib will be 57 billion riyals per month.
The continued refusal of the Ma’rib authority to deposit Marib’s resources for the unified account of the government in the central bank in Aden, at a time when the state’s public finances are suffering from a large deficit, and the financing of the deficit is covered by overdraft “currency printing”, which is the main reason for accelerating the decline in the value of the Yemeni riyal.
Marib’s total revenue from oil export and the domestic sale of refined fuel and cooking gas equals about a quarter of total public revenue and more than a third of total oil and gas revenue, but it goes to serve the agenda of the Islah party, the Muslim Brotherhood’s branch in Yemen.
