YPC: Aggression blockade unable the company to adapt to global prices

Coalition of aggression’s continued arbitrary detention of oil derivatives vessels shipped in recent months at high global prices has caused a lack of flexibility and inability to adapt to falling world prices, especially in light of escalating delay fines,” the Yemeni Petroleum Company  (YPC) said in a statement on Monday.

The company explained that the ship “Cornet” which will arrive today April 21, 2020, after being held at sea in front of the port of Jizan for 103 days after obtaining the UN permit, was shipped on December 12, 2019 with an average of high exchange price of $70.34.

“The company regrets to assure our fellow citizens that there is lack of moving the selling prices at this stage,” the statement read.

The YPC confirmed that it will spare no effort in reconsidering the current price if the forces of aggression lift the arbitrary restrictions imposed on oil derivatives vessels, which fall within the practices of collective punishment adopted since the beginning of the aggression.

Fuel is needed for transportation, shortages have caused fuel prices to spike up to 200 percent in some areas, making the transportation of life-saving aid to communities-in-need more expensive.

The forces of the US-Saudi aggression continue piracy in the seizure of oil derivatives ships, while the United Nations remains silent, threatening the lives of all Yemeni people