NORTH YEMEN

Hunt Oil Secures $9mn IFC Loan for Development of Alif Discovery 

The Yemen Hunt Oil Company (YHOC), a subsidiary of the Dallas-based Hunt Oil, has secured a $9mn loan from the World Bank affiliate, the International Finance Corporation (IFC), to help finance a project for the development of its Alif discovery in the Marib-Jawf area in North Yemen. The project - which reportedly will cost some $50mn - entails the drilling of five wells, the construction of a crude oil...