News - Yemen: The Ministry of Oil and Minerals revealed that the total Oil and Gas looted by the US-Saudi aggression and its mercenaries during the temporary truce period reached $1.1 billion, which was collected by illegally selling 9.9 million barrels of oil.

The total revenues of domestic Gas  that were looted by the US-Saudi aggression and its mercenaries during the truce amounted to $191 million.

According to the Ministry of Oil, the total amount of oil and gas looted for 6 months amounted to $1.294 billion, pointing out that this amount is sufficient to pay 11 months of the salaries due to state employees.

On Tuesday, the fifth part of an investigation done by Almasirah channel revealed the extent of the financial damage from the sale of liquefied gas, including the benefit of foreign companies, not the national interest.

A former official in the Yemen Liquefied Natural Gas Company confirmed that the Yemeni liquefied gas exports between November 2009 and April 2015 amounted to 500 ships that carried 31 million and 300 thousand tons.

"The revenues from gas exports did not exceed nine billion and 400 million dollars,” he added. “Yemen's share of it was limited to only one billion and 100 million dollars.”

The official explained that Yemen's share of gas revenues amounted to only six percent as a result of the low percentage of profits and the sale of gas at prices that did not reach a quarter of the market prices at the time.

“The low prices of liquefied gas exports caused delays in covering the capital costs of the gas project,” the Undersecretary of the Central Organization for Control and Accountability Faisal Al-Badani told Al-Masirah.

He explained that the prolongation of the recovery period for capital costs besieges Yemen's share at 25 percent of the profits. “This means that gas sales contracts are designed to benefit foreign companies,” he added.

For his turn, Ahmed Daris, Minister of Oil and Minerals, confirmed that the re-export of liquefied gas is linked to adjusting the selling prices of gas according to international prices at the present time.

He noted that it is not possible to resume the export of liquefied gas without agreeing on a guaranteed formula to use its financial returns to calculate the salaries of state employees and public services.

Meanwhile, the Director General of Oil Accounts at the Ministry of Oil Abdulwahab Mutahar stressed the need to radically amend the contracts for the sale of liquefied gas.

He considered that it is a national necessity and the Supreme Economic Committee should take that into account.

Before the US-Saudi aggression waged its war on Yemen, former presidential directives pushed towards the acceptance of gas sales contracts at low prices.

The investigation has revealed the details of gas exports and their revenue between 2009-2015, which started with six ships in 2009 with a value of 500 million dollars. Then 73 ships in 2010 with a value of 900 million dollars, followed by 104 ships in 2011 with a value of one billion and 400 million dollars.

In 2012, the number of gas export ships reached 79, with a value of two billion and 200 million dollars, followed by 116 ships in 2013, with a value of two billion and 200 million dollars. In addition to 102 ships in 2014 at a value of three billion and 200 million dollars, and 20 ships in 2015 with a value of 400 million dollars.

After the US-Saudi aggression launched its war on Yemen, it used to loot Yemen's wealth. Since 2015, talk about exports of Yemen’s oil and gas resources has been closed. Fields, facilities and operating companies are now at the disposal of Riyadh and Washington.

Last week, Yemen's Armed Forces announced in a military statement the implementation of a warning strike to prevent an oil ship that was trying to loot crude oil through the port of Dabba in Hadramout Governorate.
 
Brigadier Sare'e explained that the warning message came to prevent the continuous looting of oil wealth and not to allocate it to serve the people in paying salaries and services.
 
He pointed out that the message was after addressing the ship operators and informing it of the decision based on the Yemen laws in force and international laws,. He pointed out that the ship was dealt "with cautionary measures through which the Yemeni' Armed Forces were keen to preserve the safety and security of Yemen's infrastructure and the security of the ship and its crew."
 
The Armed Forces spokesman renewed the warning by saying: "We will not hesitate to do what it takes to stop and prevent any ship trying to plunder the wealth of our Yemeni people," stressing that the Armed Forces  are able to launch more warning operations in defense of Yemenis and to protect their wealth from tampering and looting.
 
In his speech on the 8th anniversary of the September 21 revolution, the leader of the revolution Sayyed Abdulmalik al-Houthi warned against continuing to plunder the national wealth from any foreign company that colluded with the coalition of aggression.
 
In turn, President Mahdi Al-Mashat directed the Supreme Economic Committee, on the first of October, to edit the final official correspondences of all companies and entities related to the looting of Yemeni sovereign wealth, to completely stop looting operations.