Business & Economy
Written By: Elena White
Article Date: May 2, 2012 - 10:32:08 AM
Hisham Sharaf, Yemen’s Oil Minister told the press that this year’s participation to Houston Oil conference would help put the country on the map and attract new foreign investors.
Yemen's Minister of Oil Hisham Sharaf
After a year of economic and politic upheavals, Yemen is trying to piece back together its ailing economy by seeking new partnerships and joint ventures with foreign nations in a bid to not only boost its revenues but also to benefit from outside’s expertise and position itself n the world market.
Denying recent allegations made by the World Bank that Yemen’s Oil was running out, Minister Sharaf maintained that Oil and its derivatives still held the promises of a prosperous future for the nation.
The Minister who heads the Yemeni delegation was accompanied by several officials from the Oil ministry but also by representatives of companies operating in the exploration and production of Oil and Gas in Yemen.
It is the first time that Yemen was invited to attend the American conference, making a decisive step in the right direction since the event is said to be the most prominent of its kinds within the industry.
US ambassador to Yemen, Gerard Feierstein sponsored Yemen’s inclusion in the event wanting to prove that the Pentagon wanted to develop it economic ties with the poorest country of the Arabic Peninsula in order to promote its recovery.
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