YPC in Aden accuses Hadi’s gov’t of looting value of oil derivatives

The Yemeni Petroleum Company (YPC)’s branch in Aden province on Sunday accused Hadi’s government and the Central Bank of not paying the value of oil derivatives quantities supplied to the company and not pumping the materials to the company’s tanks by Aden Refinery.

The company said that it is waiting for the completion of the remittance process so that Aden Refinery Company can resume pumping, although it was informed last Thursday of raising the dollar exchange rate from 501 to 556 riyals by the Central Bank, and as usual this will lead to modifying the sale price of oil derivatives in stations.

Aden province has witnessed a new crisis of oil derivatives after the closure of fuel stations, and because of the failure of Hadi government to deposit the value of the received oil amounts to the account of Aden Refinery Company.

It is noteworthy that Hadi government earlier approved to restrict oil imports and exports via Aden refinery company, which caused a large crisis in different provinces of the Republic.

YPA