August 24th 2011 - 4:55PM ... Dyveke Rogan
Compliant country
(Suspended)
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Overview of Extractive Industries Oil production in Yemen is shrinking rapidly and is expected to drop below 250,000 b/d by 2014. Meanwhile, Liquefied Natural Gas (LNG) production has been increasing since its first shipment to South Korea in November 2009, but not enough to compensate for the fall in oil production. In 2009 oil accounted for over 85% of export earnings and an estimated 70% of government revenues. This leaves the economy highly vulnerable to fluctuations in the international prices of oil and gas. The country's oil reserves are, relatively limited and could be depleted within 10 years. Gas revenues are set to total $30-50 billion from 2008 to 2028, and recent discoveries of zinc will expend the extractive sector in Yemen. Status of EITI Implementation Yemen announced its formal commitment to implement the EITI following a Cabinet Decree in March 2007 and the Ministry of Oil and Minerals has been designated as the focal point for coordinating the implementation of this initiative. Yemen was accepted as an EITI Candidate country on 27 September 2007. On 10 November 2010, Yemen launched its first EITI Report of the payments and revenues of oil covering 2005, 2006 and 2007. Yemen was accepted by the EITI Board as EITI Compliant on 1 March 2011. The Validation Report is available here. However, the Board agreed to temporarily suspend Yemen from the EITI process on 9 June 2011 citing concerns that it was "not satisfied that the full and active participation of civil society and other actors in EITI implementation could be maintained". Governance of EITI Implementation In August 2007, the Ministry of Oil and Minerals, Government of Yemen, established the mutli-stakeholder "National EITI Council" with a separate YEITI Secretariat. The aim of this council is to monitor and facilitate the EITI implementation process by taking the necessary decisions and ensuring necessary support to fulfill the EITI work plan. Yemen EITI Chairman Dr Mohammed S. MokbelGeneral Manager of the Planning DepartmentMinistry of Oil and MineralsPO Box 81Sana'a, Republic of YemenTel: 967-1-213139Email: moh208550 [at] yahoo [dot] com EITI National Coordinator Mohammed Al-NajjarE-mail: mohdalnajjar78 [at] yahoo [dot] com Companies operating* Oil & gas companies: ExxonMobil*, TOTAL*, KPC (Kuwait), Occidental Petroleum, OMV (Austria), Petronas* EITI Supporting Company * Note: Company list based on EITI research and is not conclusive For further information, please contact Eddie Rich in the EITI International Secretariat.
