Yemen

Daily production: 130,700 bpd (2013 estimate)

Key sites: Al-Mukalla (port of export), Masila oilfields (eastern Yemen), Marib oilfields (northern Yemen)

Situation Report

Yemeni oil output on its own is not substantial enough to move global prices, though a freeze in exports surely hurts the Yemeni people as oil accounts for 63% of government revenue and 25% of national GDP. And unfortunately, this is exactly what we’re seeing. Masila fields are in flux, with Austrian energy group OMV declaring force majeure on their holdings in the area, and other fields being handed over to tribal groups for “safe keeping.” Both are the result of recent Al-Qaeda gains, notably taking over the airport, refinery, and government buildings in the key port city of Al-Mukalla in eastern Yemen.