YEMEN Press Agency

YPC holds Aden’s central bank responsible for Oil derivatives crisis

ADEN, March 2 (YPA) – The Yemeni Petroleum Company (YPC) in the province of Aden on Saturday accused Mohammed Zemam, governor of the Central Bank in Aden, of being behind the oil derivatives crisis in the province.

A statement issued by the company said that the bank raised the price of selling the dollar to the company’s branch in Aden from 440 Yemeni riyals to 495 riyals, forcing the company to stop working to avoid losses.

Aden and the other occupied southern provinces are witnessing a stifling crisis of oil derivatives, which caused the disruption of works, and the electricity cuts in the provinces of Aden and Lahj, in addition to the rise of the petrol price to more than 14,000 riyals for 20 liters.