First Shipment of Oil Derivatives Arrives in Socotra
Today, Socotra received its first shipment of oil derivatives as part of a grant provided by the Saudi Program for the Development and Reconstruction of Yemen. This grant aims to operate electricity stations in the districts of Hadibo, Qalansiyah, Muri, and Alamah. Additionally, the initiative will support power generation stations across various Yemeni provinces.
Saudi Arabia’s Development Support Package
This shipment is part of a broader developmental and economic support package recently announced by Saudi Arabia. The package includes 28 developmental projects and initiatives valued at 1.9 billion Saudi Riyals. The primary goal is to enhance essential services and bolster economic stability in Yemen.
Agreement with Yemeni Ministry of Energy
The Saudi Program for the Development and Reconstruction of Yemen signed an agreement with the Yemeni Ministry of Energy and Electricity to purchase oil derivatives from the Yemeni Oil Company, Petromasila. This agreement will supply over 70 electricity stations nationwide, improving the efficiency of government institutions and ensuring the continuity of electricity services for vital facilities.
Details of the Oil Derivatives Grant
According to the program, the total quantity of the grant amounts to 339 million liters of diesel and mazut, valued at 81.2 million dollars. This supply will power electricity stations across various provinces, positively impacting public services, particularly in hospitals, medical centers, roads, schools, airports, and ports. Furthermore, it will enhance economic and commercial activities.
Previous Oil Derivative Grants
The Saudi Program for the Development and Reconstruction of Yemen has provided several oil derivative grants in previous years. These include a $180 million grant in 2018, a $422 million grant in 2021, and a $200 million grant in 2022, culminating in the current grant for 2026.
For more information, visit Yemen TV.
To follow the news in Arabic
