A Saudi-Yemeni agreement, valued at $150 million, was signed under the patronage of Yemeni Prime Minister Dr. Shaya Zindani to supply petroleum derivatives for power plants across various Yemeni governorates, as part of Saudi Arabia’s support through the Saudi Development and Reconstruction Programme for Yemen (SDRPY) to the Yemeni Ministry of Electricity and Energy.
The agreement was signed by Minister of Electricity and Energy Adnan Al-Kaf and
Saudi Ambassador to Yemen and SDRPY General Supervisor Mohammed bin Saeed Al
Jaber.
The petroleum derivatives support, consisting of diesel and mazut, will fuel
more than 70 electricity generation plants across various Yemeni governorates,
helping enhance the stability and continuity of electricity services and
support vital sectors linked to electrical energy.
The support reflects Saudi Arabia’s longstanding commitment
to supporting the Yemeni people and alleviating their humanitarian suffering,
particularly amid rising temperatures.
It is also expected to contribute to stimulating commercial
activity, creating job opportunities, and promoting economic growth in Yemen.
An additional agreement was also signed between the Yemeni oil company
PetroMasila, the Yemeni Ministry of Electricity and Energy, and SDRPY to
support the sustainability of PetroMasila’s operations as a state-owned
company, strengthening its capabilities, improving operational efficiency, and
ensuring continuity of services in support of the Yemeni government.
The initiative is implemented under a comprehensive governance framework to
ensure that assistance reaches the final beneficiaries, through a supreme
committee linked to the prime minister and comprising several Yemeni entities
responsible for overseeing and monitoring the distribution of petroleum
derivatives to power plants based on the identified needs of electricity
generation facilities across Yemeni governorates.
SDRPY provided petroleum derivatives grants in 2018 valued at $180 million, a
grant in 2021 worth $422 million, an additional grant in 2022 amounting to $200
million, and a grant in 2026 valued at $81.2 million.
The current $150 million grant comes amid rising
temperatures and an urgent need to improve electricity service quality,
contributing to better daily life and living standards for the brotherly Yemeni
people. -OGN/TradeArabia News Service
