Coalition establishes oil bank with US company in Aden to looting of Yemen wealth

ADEN, June. 25 (YPA) – The Saudi-led coalition-backed government has establish a new oil bank in agreement with an American company in the city of Aden.

Ministry of Oil in Aden stated that it had reached the agreement with the US company, Schlumberger, to establish the oil data bank that would enable it to limit its dealings with foreign and national oil companies working in the field of oil and gas exploration and production, in a step described as a trend towards more looting of Yemeni natural resources during the coming period.

It pointed out that the American company’s control of information would encourage foreign companies to invest and develop financial resources, away from the central information of the Republic of Yemen in Sanaa.

The ministry indicated that the tasks of the data bank in Aden, which is implemented by the American company, would include receiving, examining, processing, analyzing and preserving all old and modern petroleum data and information implemented in all petroleum sectors in Yemen, in the efforts of the UAE-backed Southern Transitional Council, to restore the so-called “state institutions and database” to achieve its demanding project, with the return of the southern provinces to before the achievement of national unity, May 22, 1990.

“The government backed by the coalition are seeking to establish the Oil Data Bank to open the door wide for American companies to acquire the Yemeni oil sectors in the southern provinces.”

AA