Al Nassr secures 5-1 victory over Al Ain to edge closer to knockout stage    Saudi Deputy FM meets Lt. Gen. Al-Burhan of Sudan    Al-Khateeb: Saudi Arabia is the largest global investor in tourism sector "Saudi Land" pavilion inaugurated at World Travel Market in London    Saudi Crown Prince, Japanese PM discuss over phone efforts made to achieve peace in the region    Saudi Arabia, in its drive to enrich Arab culture, launches Arab Week at UNESCO in Paris    Neymar exits Al Hilal match with muscle injury, leaving fans disappointed    AlHisn Big Time Studios unveiled to transform film and TV production in Riyadh    Saudi Arabia approves cooperation agreement with US for the use of outer space for peaceful purposes    Quality of Life Program CEO highlights Saudi urban transformations at UN-Habitat conference in Cairo    Almarai wins 'Best Corporate Sukuk' at Asset Triple A Islamic Finance Awards    Top climber falls to death after rare Himalayan feat    US voters flying home in time for election    Drones and snipers on standby to protect Arizona vote-counters    India's Modi condemns violence after Canada temple incident    Elon Musk can keep giving $1m to voters, judge rules    Mitrovic's hat-trick leads Al Hilal to 3-0 victory over Esteghlal    Al Ahli extends perfect start with 5-1 victory over Al Shorta    Quincy Jones, titan of US music, dies aged 91    Hidden sugars in Asia's baby food spark concerns    HONOR unveils pre-order of the stunning HONOR MagicBook Art 14 Featuring an ultra-slim design, HONOR Eye Comfort Display and AI Cross-OS WorkStation    India puts blockbuster Pakistani film on hold    The Vikings and the Islamic world    Filipino pilgrim's incredible evolution from an enemy of Islam to its staunch advocate    Muted Eid celebrations for millions of Nigerian Muslims    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Fourth Batch of Saudi Oil Derivatives Grant Arrives in Aden Port
Published in Saudi Press Agency on 24 - 09 - 2021

The 4th batch of oil derivatives grant being provided by the Kingdom of Saudi Arabia via Saudi Development and Reconstruction Program for Yemen (SDRPY) to the Republic of Yemen has arrived at the port of Aden with quantities of 75,000 metric tons of diesel and 40,000 metric tons of fuel oil with a total of 115 metric tons of Saudi oil derivatives amounting to 302,000 metric tons since the start of the grant.
The grant aims to meet the monthly need being provided by the power stations in Yemeni governorates and according to an agreed-upon precise governance to ensure reaching the beneficiary Yemeni governorates.
Director of based-Aden SDRPY's office, Eng. Ahmed Madkhali said, "This grant came upon the directives of the Saudi leadership, and out of harnessing all efforts in various fields to help the Yemeni people,"
He added, "The Saudi oil derivatives grant had a positive impact on improving the level of electric power, and contributed during the first quarter of 2021 to the production of more than 764 megawatts as it contributed to improving the general conditions in various economic, health, educational and service fields. It also contributed to raising the operating capacity in the shops, increasing the hours of electricity operation in the governorates and reducing the hours of interruption and its recurrence, which contributed to achieving economic stability."
The previous three batches contributed to the operation of 80 power stations distributed over the Yemeni governorates, under the supervision and follow-up of Oil Derivatives Distribution Committee, based on the previously provided need from the power plants in the Yemeni governorates.
The Saudi derivatives grant, through its batches that reached various Yemeni governorates, contributed to alleviating the burden on the Yemeni government's budget, limiting the depletion of hard currency by the Central Bank of Yemen to purchase oil derivatives from global markets, and contributed to providing job opportunities, raising the productive power of the Yemeni citizen as well as improving vital sectors services and the lives of Yemeni citizens.
Through this grant, the Kingdom of Saudi Arabia seeks to contribute to the stability of fuel prices in Yemen, improve services in vital sectors and contribute to developing infrastructure, improving basic services inside Yemen and reducing frequent power cuts as well as improving the daily living of the Yemeni citizen.
The Yemeni Ministry of Electricity and Energy is also facing a challenge in the weak collection of revenues and their supply to the joint general account, as the amount of collection from electric power sales in the first quarter of the grant amounted to 9,421 million dollars, or 48% of the total sales, amounting to 19.5 million dollars, part of which was spent on the operating budget and salaries for the General Electricity Corporation, with an estimated value of $5.4 million, representing 57% of the collected amounts.
The Ministry also faces a set of challenges, represented by the poor efficiency of power plants, the absence of periodic maintenance of electrical networks, the obsolescence of transmission and distribution networks, the length of electrical feeding lines and the loss of energy sold amounting to 46% of the produced energy, which amounts to 57% in Aden Governorate, as well as the random connection from the electrical network, in addition to the decrease in revenues that do not correspond to the operational costs of the General Electricity Corporation, including the costs of oil derivatives.
The Saudi oil derivatives grant is part of the support of SDRPY, which provided more than 204 development projects and initiatives implemented in various Yemeni governorates to serve the Yemeni people in seven basic sectors: education, health, water, transportation, agriculture and fisheries, and capacity building of government institutions, in addition to development programs.


Clic here to read the story from its source.