Riyadh - Mubasher: Saudi Arabia and Yemen inked a $150 million agreement to supply petroleum derivatives for power plants across various Yemeni governorates.
The deal comes within the framework of the Saudi Development and Reconstruction Program for Yemen (SDRPY) to the Yemeni Ministry of Electricity and Energy.
Under the agreement, diesel and mazut fuel will be provided to more than 70 power generation plants across Yemen, contributing to enhancing the stability and reliability of electricity services while supporting key sectors that depend on a continuous power supply.
SDRPY, the Yemeni Ministry of Electricity and Energy, and the state-owned oil company PetroMasila signed an additional agreement aimed at supporting the sustainability of the company’s operations. It will boost the group’s capabilities, improve operational efficiency, and ensure the continuity of its services in support of the Yemeni government’s energy sector objectives.
The partnership builds on Saudi Arabia’s support for Yemen’s electricity sector through SDRPY, which provided petroleum derivatives grants in 2018 valued at $180 million, a grant worth $422 million in 2021, an additional grant in 2022 amounting to $200 million, and a grant in 2026 valued at $81.2 million.
