Saudi Arabia announced a new $200 million handout for oil derivatives on Thursday to help Yemen’s ailing electrical industry and supply fuel for power plants.
The SDRPY and the Yemeni government reportedly inked a grant deal to deliver 250,000 metric tonnes of oil derivatives for the operation of power plants in Yemen, according to the Saudi Press Agency.
According to the declaration, the programme completed the necessary steps to provide the first instalment of the grant, totaling $30 million, for the operation of more than 70 electric power plants in the south and east of the country that are under the control of the internationally recognised government.
The latest Saudi gift comes at a time when power outages caused by a scarcity of fuel for power plants have become more severe in the southern governorates and the coastal city of Aden, particularly after the previous Saudi oil derivatives grant ended in early June.
In May of last year, Saudi Arabia gave Yemen a donation of approximately 1 billion dollars’ worth of oil derivatives. Saudi Arabia is spearheading a military coalition to defend the internationally recognised Yemeni government against the Iran-aligned Houthi militia.
261 million tonnes, valued at $422 million.
This subsidy, which supported the operation of more than 80 power stations in the governorates under government control, was given for a year before concluding in the middle of this year. .
Yemen receives oil derivatives worth $200 million from Saudi Arabia to run power plants.
About Author
