Yemeni President, Ali Abdullah Saleh, recently approved a memorandum of understanding between the Yemeni government and the Hadramout Refineries Limited Company to set up a new oil refinery in Al-Makla, reported Al-Hayat . The approval grants the company incentives and exemptions based on the investment law. The initial capacity of the refinery is estimated at 25,000 barrels per day. The refinery project costs $100-$150 million. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
