Yemen’s ministry has been hard at work over the past year or so to restore the country’s battered oil industry, and in turn bring crude production back to levels seen in the early 2000s. In recent meetings Yemen’s President ‘Abd Rabbu Mansur Hadi has urged foreign oil companies to increase their investments.
Crude production in Yemen has been in steady decline over the past 10 years or so, with BP estimating the country’s 2011 production at 228,000 b/d, down 24% from the 2010 figure of 301,000 b/d, and 50% off 2001’s 455,000 b/d. (CONTINUED - 818 WORDS)
