NORTH YEMEN

Exxon Acquires 49% Stake in Hunt Concession 

Exxon Corporation has confirmed the news (first carried in MEES, 23 December) that it has bought 49% of Hunt's total interest in the Marib-Jawf concession and that the two US companies have formed a joint venture to produce and transport crude oil from the northeastern fields to the Red Sea port of al-Salif. The Yemen Hunt Oil Company (YHOC), a subsidiary of the Dallas-based Hunt Oil, will remain the operator under the new...