Yes, Yemen Has Oil

[Robbien]

Yes, Yemen has oil.

The Middle Eastern nation - in the south of the Arabian Peninsula, bordering the Arabian Sea, Gulf of Aden, and Red Sea - has been exporting a couple of billion dollars worth of crude oil per year.

But it's oil supplies are shrinking rapidly, and may be totally depleted within 10 years.

As the Yemen Observer notes:

Yemeni crude oil exports decreased to $1.5 billion during the fiscal period from January –October of 2009, compared with $4.2 billion during the same period of 2008, a decrease of $2.7 billion, the Central Bank of Yemen reported.

And the World Tribune points out:

The Carnegie Endowment for International Peace said Yemen was rapidly losing its crude oil reserves.

In a report, Carnegie said Yemeni oil exports, a key source of foreign currency, declined from 450,000 barrels per day in 2003 to 280,000 in early 2009, Middle East Newsline reported.

http://www.washingtonsblog.com/2009/12/yes-yemen-has-oil.html

[defendandprotect]

1. Aha . . . see what you mean . . .

[jwirr]

2. Oil depletion appears to be what is happening but why do Saudi/

USA want in there if the oil is running out. Or are we so desperate that we want to control every last ounce.

[Demeter]

3. Natural Gas?

There's something there, all right. They are slavering over the thought of WAR. And that means stealing someone's natural resources.

[27inCali]

5. it's the private contracts

doesn't matter if there is nothing there.

we start sending troops, private contractors start getting contracts for billions all over again.

edit to add:

contractors who do what the military could be doing for itself at half the cost.

[IndianaGreen]

4. As does Nigeria

We don't have enough drones to bomb all those countries, or troops to make a difference on the ground.

We are a collapsing empire, and it will happen in our lifetimes.

[underpants]

6. Too funny of a headline

spot on

when Thatcher's son tried to take Equitorial Guinea with a mercenary force I asked here on DU the "Why...." question. Guess what. They have oil too

It's like they are working on a sound stage

[polly7]

7. Hunt Oil was the first to discover a major oil field in Yemen.

Operations in Yemen
Hunt discovered oil in Yemen in 1984, and opened a refinery at Maarib in 1986. The refinery was inaugurated by then Vice-President George H. W. Bush in April 1986.<12>

In November 2005, the government of Yemen attempted to nationalize the operation of the concession, which is known as Block 18. Hunt Oil responded by filing arbitration against the Yemeni government at the International Chamber of Commerce in Paris.<13>

http://www.sourcewatch.org/index.php?title=Hunt_Oil_Company

YEMEN - Hunt & ExxonMobil Sue San'a'.

Publication: APS Review Gas Market Trends
Date: Monday, June 9 2008

Yemen Exploration & Production Co. (YEPC), a US joint venture of Hunt Oil and ExxonMobil Corp, in late 2005 filed arbitration at the Paris-based International Chamber of Commerce against the San'a' government over the removal of YEPC as operator of Block 18, located in the Ma'rib/Jawf basin and

its replacement by a Yemeni company called Safer.
http://www.allbusiness.com/company-activities-management/company-structures/10560769-1.html