Yemen confirms oil sales

The [Yemeni] Supreme Committee on Crude Oil Marketing sealed Sunday the crude oil sales of March 2013, estimated to be 4.1 million barrels.

In its meeting chaired by Prime Minister Mohammed Salem Basindwa, the committee approved to sell the full quantity of Masila crude oil expected to be 2.1 million barrels to Unibic Company, which has presented the best bid worth 72 cent a barrel plus Dated Brent.

Concerning Marib crude oil, the committee approved selling the full estimated quantity of 2 million barrels to Aden Refinery Company at the dated Brent price (without any discount or rise).

Moreover, the committee reviewed a report of Petroleum Exploration and Production Authority (PEPA) on the oil production and the current condition of the productive blocks in the country.

The report included a detailed statement on the daily and annual oil production, underway projects in the productive blocks, explanation on the reasons behind the production decline and the proposed solutions and plans to maintain production level.