VOL. XLII

No. 19

10-May-1999

YEMEN

CanOxy Crude Oil Production In Yemen Averaged 201,300 B/D In1998

Average crude oil production from Canadian Occidentals(CanOxy) Masilah block in Yemen in 1998 rose to 201,300 b/d compared to 190,000b/d in 1997, according to the companys 1998 annual report. Despite theincreased production, lower oil prices resulted in a 45% decline in operatingprofit to C$154mn (US$103mn), down from C$279mn ($186mn) the previous year.Capital expenditure nearly tripled in 1998 to...