$76 billion dollars of Yemen oil/gas looted by Saudis in 6 years.

[Hack-Hook]

U must be living in 2010. We would have prevented the genocide facilitated by houthis, we could have saved thousands of children that are now dying from hunger.


How are the two comparable? India helped separatists against a legitimate govt. Pakistan would have helped the legitimate, UN recognized govt against insurgent militia. U dont see difference between the two???
If God forbid TTP takes over Islamabad and half the country, wont u be thankful to the country that helps u get rid of them??

again the myth of Hadi being , legitimate
no he was not . his term have ended one year before uprising .
after the fall of Aden he resigned and yemen parliament accepted his resignation.
he was a pawn , a burn out politician that KSA used to justify Yemen occupation , he had no authority when he asked KSA to help him in the Coupe against Yemen legitimate government.
you can see it for yourself as the first thing KSA did when Hadi and MBS staged that Coup d'état was to bomb yemen army position and equipment

 

[niaz]

I happen to know quite a bit about the Yemeni oil scene, kindly allow me to analyze the lead article of this thread.

Yemen was never a significant oil exporter. Yemeni oil production started in 1993 and reached an all-time high of 466 K BPD in 2001. After that, the output started to decline due to reserves depletion and stood at 125 K BPD in 2014 when the Yemeni war started. After a halt of two years, production resumed in 2016 at 18 K BPD slowly climbing to 61 K BPD in 2019. Understand that since mid-2020 crude oil production stands at 66 K BPD.

“As Houthi control spread across the country and the political climate became more precarious, the energy sector was drastically affected. Foreign firms operating in Yemen were forced to abandon operations and evacuate staff. In 2015, nearly all production in Yemen’s oil and natural gas fields was shut-in. Total petroleum and other liquids production fell from an average of 125,000 barrels per day (b/d) in 2014 to a low of 18,000 b/d in 2016. During the past few years, production has been slowly increasing. Petroleum and other liquids production returned to approximately 61,000 b/d in 2019. However, natural gas production fell from 328 billion cubic feet (Bcf) in 2014 to 3 Bcf in 2018.”

https://www.eia.gov/international/analysis/country/YEM

Total current exports are estimated at about 35 K BPD.

With total reserves of 17 Tcf Yemen has even less than Pakistan’s (25 Tcf).

“Yemen holds 17 trillion cubic feet (Tcf) of proven gas reserves as of 2017, ranking 31st in the world and accounting for about 0% of the world's total natural gas reserves of 6,923 Tcf.

Yemen has proven reserves equivalent to 980.6 times its annual consumption. This means it has about 981 years of gas left (at current consumption levels and excluding unproven reserves.

Current export is 66,745 MMcf.”
https://www.worldometers.info/gas/yemen-natural-gas/).


Average crude oil prices during 2014 -2020 have hovered between $40 t0 $65 per bbl. Let us assume a high figure of $60/bbl for this exercise.

The first figure about looting refers to a loss of $5-billion of revenue from the Marib Oil refinery. Marib oil refinery is a very simple oil refinery with a nameplate capacity of 10 K BPD. If run at full capacity all year, it would use 3.65- million bbl of crude; with $60 crude value and another $5/- per bbl refining cost, the total value of the annual output would be $237.23-million. Since there was no production until 2016; in 4 years since 2016, the total value of the Marib Oil refinery comes to $949-million. The $5-bilion figure mentioned is more than 5 times the actual number.

Crude exports only started in the last couple of years. At 35 KBPD (12,775-million per year), the total value of crude exports is only $766.50-milion per year. This translates into about $1.53-billion in 2 years.

Another figure quoted is 18-million bbl in 2018 & 29.5- million bbl in 2019. The value of 47.5- million bbls is only $2.85-bilion. 1-mmBtu is about 1,000 cft. This means that total Yemini exports of the gas total only 66- mmBtu, not even worth no more than about 250-million dollars per year. The figure 0f $11-billion relates to the loss of gas production. Not looting by the Saudis. Loss of income does not mean that it was stolen.

Can anyone explain how the enormous figure of $76-billion stolen by the Saudis was arrived at? On the other hand, as of April 2020, the Yemeni misadventure had cost Saudi nearly $100-bilion.

https://insidearabia.com/saudi-arabia-looks-for-a-peace-deal-in-yemen-but-at-what-price/

The naivety of some of the fellow Pakistanis can be beyond belief. They would believe almost anything. No wonder that we are a nation that is susceptible to believe in conspiracy theories and false rumors such as being circulated about the Polio drops and the Covid-19 vaccine or that Pakistan had discovered huge reserves of oil even before the drilling of Kekra -1 started.

I humbly request the members of this august forum that no video, Youtube blogs, or news item should be accepted at its face value especially when written with an obvious bias. One must do a little research before deciding what percentage of the rumor is true. Saudis have oil coming out of their ears, why would they invade a poor country like Yemen with peanut size reserves risking Saudi lives as well as the international scorn?

 

[Michel Niesten]

And that is a thorough analysis. Well done!

 

[Abu Dhabi]

I happen to know quite a bit about the Yemeni oil scene, kindly allow me to analyze the lead article of this thread.

Yemen was never a significant oil exporter. Yemeni oil production started in 1993 and reached an all-time high of 466 K BPD in 2001. After that, the output started to decline due to reserves depletion and stood at 125 K BPD in 2014 when the Yemeni war started. After a halt of two years, production resumed in 2016 at 18 K BPD slowly climbing to 61 K BPD in 2019. Understand that since mid-2020 crude oil production stands at 66 K BPD.

“As Houthi control spread across the country and the political climate became more precarious, the energy sector was drastically affected. Foreign firms operating in Yemen were forced to abandon operations and evacuate staff. In 2015, nearly all production in Yemen’s oil and natural gas fields was shut-in. Total petroleum and other liquids production fell from an average of 125,000 barrels per day (b/d) in 2014 to a low of 18,000 b/d in 2016. During the past few years, production has been slowly increasing. Petroleum and other liquids production returned to approximately 61,000 b/d in 2019. However, natural gas production fell from 328 billion cubic feet (Bcf) in 2014 to 3 Bcf in 2018.”

https://www.eia.gov/international/analysis/country/YEM

Total current exports are estimated at about 35 K BPD.

With total reserves of 17 Tcf Yemen has even less than Pakistan’s (25 Tcf).

“Yemen holds 17 trillion cubic feet (Tcf) of proven gas reserves as of 2017, ranking 31st in the world and accounting for about 0% of the world's total natural gas reserves of 6,923 Tcf.

Yemen has proven reserves equivalent to 980.6 times its annual consumption. This means it has about 981 years of gas left (at current consumption levels and excluding unproven reserves.

Current export is 66,745 MMcf.”
https://www.worldometers.info/gas/yemen-natural-gas/).


Average crude oil prices during 2014 -2020 have hovered between $40 t0 $65 per bbl. Let us assume a high figure of $60/bbl for this exercise.

The first figure about looting refers to a loss of $5-billion of revenue from the Marib Oil refinery. Marib oil refinery is a very simple oil refinery with a nameplate capacity of 10 K BPD. If run at full capacity all year, it would use 3.65- million bbl of crude; with $60 crude value and another $5/- per bbl refining cost, the total value of the annual output would be $237.23-million. Since there was no production until 2016; in 4 years since 2016, the total value of the Marib Oil refinery comes to $949-million. The $5-bilion figure mentioned is more than 5 times the actual number.

Crude exports only started in the last couple of years. At 35 KBPD (12,775-million per year), the total value of crude exports is only $766.50-milion per year. This translates into about $1.53-billion in 2 years.

Another figure quoted is 18-million bbl in 2018 & 29.5- million bbl in 2019. The value of 47.5- million bbls is only $2.85-bilion. 1-mmBtu is about 1,000 cft. This means that total Yemini exports of the gas total only 66- mmBtu, not even worth no more than about 250-million dollars per year. The figure 0f $11-billion relates to the loss of gas production. Not looting the Saudis. Loss of income does not mean that it was stolen.

Can anyone explain how the enormous figure of $76-billion stolen by the Saudis was arrived at? On the other hand, as of April 2020, the Yemeni misadventure had cost Saudi nearly $100-bilion.

https://insidearabia.com/saudi-arabia-looks-for-a-peace-deal-in-yemen-but-at-what-price/

The naivety of some of the fellow Pakistanis can be beyond belief. They would believe almost anything. No wonder that we are a nation that is susceptible to believe in conspiracy theories and false rumors such as being circulated about the Polio drops and the Covid-19 vaccine or that Pakistan had discovered huge reserves of oil even before the drilling of Kekra -1 started.

I humbly request the members of this august forum that no video, Youtube blogs, or news item should be accepted at its face value especially when written with an obvious bias. One must do a little research before deciding what percentage of the rumor is true. Saudis have oil coming out of their ears, why would they invade a poor country like Yemen with peanut size reserves risking Saudi lives as well as the international scorn?

Very professional and un-biased (realistic) post. Kudos to you brother.

 

[Michel Niesten]

The only reason Saudi Arabia is fighting in Yemen is they don’t want an Iranian proxy regime at their doorstep. All the attacks from Yemen with ballistic missiles and (Iranian-made) suicide-drones against Saudi Arabian cities, military bases and oil-facilities shows why.

 

[unrequitted_love_suzy]

yemeni oil doesn't exist . it's much saudi propaganda like american neo-nazi propaganda that claims to have stolen syrian oil. syrian oil ? where's that

The only reason Saudi Arabia is fighting in Yemen is they don’t want an Iranian proxy regime at their doorstep. All the attacks from Yemen with ballistic missiles and (Iranian-made) suicide-drones against Saudi Arabian cities, military bases and oil-facilities shows why.

I was watching saudi TV they played some music that meant something like , we have arab relatives in Yemen . i think the real reason is that muhammed bin salman is young and americans can make him do anything.

 

[T-SaGe]

Iran is the world's largest oil country. In recent years, "unfortunately", it has been experiencing difficulties in oil exports due to international pressures led by the USA. OPEC 2019 figures are as follows

Crude oil production (1,000 b/d) 2,356.2
Crude oil exports (1,000 b/d) 651.1

The reason for my emphasis on 2019

Even the worst periods of Iran are many times higher than Yemen; but Iran's export figures do not even come close to the figures written above. Remember that Yemen is in a burning civil war, and it is not possible to reach the pre-war figures with its current situation. There are minimum conditions needed to maintain these operations with a certain efficiency. When these conditions are not met, even an oil giant like Iran cannot achieve the sales it wants.

Could it be oil smuggling? Probably. If you leave a war in the lap of the local people, they have to find their way of "live" in different ways. However, these figures seem to me like propaganda material that has not been thought about too much.

 

[The SC]

Fake news..