Middle East Economic Survey

VOL. XLVII

No 29

19-July-2004

YEMEN

Yemen Government Quizzed On Allegation Of Missing IOC Funds

The Yemeni government on 8 July faced questioning from members of parliament over allegations that 80% of money paid for non-petroleum activities by international oil companies (IOCs) operating in the country had not been accounted for. Under production-sharing agreements in Yemen, the companies pay a percentage of their earnings to the state for institutional support,...