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Thursday, Dec 08, 2022

New batch of Saudi oil derivatives grant arrives in Al-Mahrah Governorate

The first batch of the new Saudi oil derivatives of 4,000 metric tons of diesel arrived at the Port of Nashtoon in Al-Mahrah Governorate, Yemen, as part of Saudi Arabia’s continuous support to the Yemeni people following directives by Custodian of the Two Holy Mosques King Salman and Crown Prince and Prime Minister Mohammed Bin Salman,
The grant is in response to a request by the Yemeni government to help it provide oil derivatives to operate more than 70 power generation plants across Yemen.

The new oil derivatives grant is an affirmation of Saudi Arabia’s keenness to achieve security, stability and development for the brotherly Yemeni people, and an extension of previous grants totaling $4.2 billion.

The latest grant was $422 million that was completed over a year and contributed to economic stability, enhancing the budget of the Yemeni government, raising the purchasing power of Yemeni citizens and improving security conditions.

It also contributed to improving the service sector, developing citizens’ lives, increasing the rate of daily service hours for the operation of power plants, and ensuring the self-operation of power plants in Yemen.

The previous oil derivatives grant provided electricity to 760,000 subscribers of the Public Electricity Company, with an average consumption per subscriber of 37 kilowatts per hour.

The number of beneficiaries stood at 9,837,044, between May 2021 and April 2022, where the grant contributed to raising the Public Electricity Company’s revenues and saving some 20% of the Yemeni government’s budget.

The new Saudi oil derivatives grant contributes to the operation of 70 power plants, which directly reflects on the operation of hospitals, medical centers, roads, schools, government institutions, airports and ports.

The grant also contributed to reducing the difference of produced energy and sold energy by 21% during the supply duration of oil derivatives to power plants, especially in Aden Governorate.

The Saudi oil derivatives grant is part of the support of the Saudi Development and Reconstruction Program for Yemen (SDRPY).

The SDRPY has offered 224 development projects and initiatives across Yemeni governorates to serve Yemenis in seven main sectors: education, health, water, energy, transport, agriculture and fishery, and building the capacity of government institutions, in addition to other development programs.
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