Foreign oil companies in Yemen are moving to cut their losses by scaling down what's left of their operations in the country or packing their bags altogether as oil prices remain low, the security situation dire and the outlook grim. "At these prices and with the agreements in place--starting up is totally uneconomic," one source with suspended operations in Yemen told International Oil Daily. "We have been shut down for 18 months and we have limited staff and capability. Bearing in mind the expense to start up production ... prices need to be well above $60 and that may not happen for a long time."
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