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Fourth Saudi Oil Derivatives Grant Arrives in Aden Port

Fourth Saudi Oil Derivatives Grant Arrives in Aden Port

Saturday, 25 September, 2021 - 06:00
The fourth Saudi oil derivatives grant (Saba News)

The fourth batch of a Saudi oil derivatives grant has arrived at the port of Aden in Yemen as part of the Saudi Development and Reconstruction Program for Yemen (SDRPY).


The shipment contains 75,000 metric tons of diesel and 40,000 metric tons of fuel oil, with a total of 115 metric tons of Saudi oil derivatives amounting to 302,000 metric tons since the start of the grant.


The grant aims to meet the monthly needs of the power stations in Yemeni governorates according to agreed-upon precise governance to ensure reaching the beneficiary areas.


The Director of SDRPY's office in Aden, Ahmed Madkhali, said that the grant came upon the directives of the Saudi leadership to help the Yemeni people.


Madkhali added, "The Saudi oil derivatives grant had a positive impact on improving the level of electric power, and contributed during the first quarter of 2021 to the production of more than 764 megawatts."


He explained that the grant improved the general conditions of various sectors.


It also contributed to raising the operating capacity in shops and reducing power rationing.


The previous three batches helped operate 80 power stations, under the supervision and follow-up of the Oil Derivatives Distribution Committee.


The Saudi oil derivatives grant contributed to alleviating the burden on the Yemeni government's budget and limiting the depletion of hard currency by the Central Bank of Yemen to purchase oil derivatives from global markets, and provided job opportunities.


It also improved the services of vital sectors and the lives of Yemeni citizens.


Saudi Arabia aims to achieve stability in fuel prices in Yemen through this grant. It also wants to improve services in vital sectors, contribute to developing infrastructure, reduce frequent power cuts, and improve Yemeni citizens' daily lives.


The Yemeni Ministry of Electricity and Energy faces different challenges, including lack of periodic maintenance of electrical networks and difficulties in collecting revenues.


The Saudi oil derivatives grant is part of the support of SDRPY, which has backed more than 204 development projects and initiatives implemented in various Yemeni governorates to serve the Yemeni people in seven important sectors.


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