Yemen’s new Minister of Oil and Minerals Abdelsalam Abdullah Salem Baaboud has pledged to run the ministry in a way that contributes to saving the national economy, stabilizing the Yemeni rial’s exchange rate, and securing foreign currency.
Baaboud, in his first official statment after being appointed minister, told Asharq Al-Awsat that the Ministry of Oil and Minerals will expend efforts to develop and enhance oil and gas production, and work to activate and strengthen technical and financial control over the activities of companies operating in the petroleum and mining sector.
The minister also thanked Yemeni President Abdrabbuh Mansur Hadi for placing his trust in him and appointing him at the helm of the ministry.
Despite current challenges facing Yemen’s new power-sharing government, Baaboud vowed to rise to the occasion and perform at the level expected by the all Yemenis.
Public servants will spare no effort in attempting to save the national economy, he asserted, highlighting the new cabinet’s dedication to improving living conditions of all Yemenis, achieving security and stability and promoting national interest.
Baaboud underlined the country’s oil sector as a key economic contributor.
Before the Houthis staged the nationwide coup in 2014, the oil sector used to cover 75% of the general budget and secure the inflow of foreign currency.
The minister, on another note, vowed to benefit from Saudi expertise in the oil and mining sectors.
“We will work on everything to achieve common goals and interests,” Baaboud said about cooperation with the neighboring Kingdom, adding that the ministry will also pay attention to developing Yemeni oil and gas production in the governorates of Shabwah, Hadhramaut and Marib.
Baaboud praised the efforts exerted by his predecessor, Aws al-Awd.
He also promised to carry on with the journey towards reform and boosting technical and financial control over operating members of the oil and minerals sectors.
