Yemen’s First Half 2012 Oil Export Revenue Reaches $2.8 Billion

Yemen’s crude oil and gas exports reached $2.8 billion in the first half of 2012, state news agency Saba reported, citing an unnamed official at the Central Bank of Yemen.

Oil revenue increased Yemen’s foreign-currency reserves to $4.75 billion at the end of June from $4.5 billion at the beginning of this year, Saba said.

Yemen’s foreign reserves will probably rise in the second half of the year, partly due to greater political stability, said Saba, citing the official.

To contact the reporters on this story: Mohammed Hatem in Dubai at mhatem1@bloomberg.net; Tamara Walid in Dubai at twalid@bloomberg.net

To contact the editor responsible for this story: Chad Thomas at cthomas16@bloomberg.net

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