Barran Press
On Sunday, November 24, 2024, PetroMasila announced the successful preliminary operation of its heavy fuel oil refining unit, producing high-quality trial quantities after a two-year hiatus.
In a statement reported by the official Saba News Agency, PetroMasila’s CEO, Mohammed bin Samit, highlighted that this achievement is part of the company's plans for diversification and development following the cessation of oil exports and the damage to the export buoy over the past two years.
Bin Samit noted that the trial quantities produced will be donated to electricity generation stations in Hadramout, under the direct supervision of local authorities.
He explained that complex engineering and construction work has been ongoing at the site for over a year, with these intricate tasks carried out within the Central Processing Facility (CPF) in Block 14, which has been operational at full capacity.
The CEO commended the engineers and technicians at PetroMasila for their innovative solutions that overcame the challenges preventing this achievement.
He added that this project will provide significant foreign currency for the government and assist in electricity generation, serving as an additional resource for PetroMasila and its employees during these difficult times.
In October 2022, the Iran-aligned Houthi group targeted export ports in Shabwa and Hadramout, depriving the internationally recognized Yemeni government of crucial foreign currency revenues. The group later conditioned the resumption of oil exports on a “mutually agreed mechanism” for revenue sharing.
The halt in oil exports due to Houthi attacks has exacerbated the country’s economic and humanitarian crisis. In August, the Yemeni government reported financial losses estimated at $1.5 billion due to the disruption of oil exports.