Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Al Mayadeen's correspondent: One was killed, another injured in a raid by an Israeli drone on the city of Khiam in South Lebanon
London views possibility of setting fire to tanker in port of friendly country to Russia to damage port infrastructure, initiate an international probe: Moscow
One of London's scenarios involves setting up accident with 'undesirable' tanker in one of the bottlenecks of maritime communications: Russian foreign intelligence agency
London plans to organize major sabotage with tankers to declare transportation of Russian oil to international shipping: Russian foreign intelligence agency
UK intelligence agencies plan to use NATO allies to launch massive raid on 'Shadow Fleet': Russian foreign intelligence agency
Palestinian Ministry of Health: Two were martyred in Israeli shelling that targeted a besieged house in the town of Qabatiya in Jenin
At least 68 dead in migrant shipwreck off Yemen: IOM
Trump: We want to feed the people in Gaza, we do not want them to starve.
US President Donald Trump: We will impose sanctions on Russia if it does not end the war on Ukraine.
Israeli media: Polls show that 52% oppose Prime Minister Benjamin Netanyahu while only 29% support him.

Sanaa, Beijing sign agreement on investments in oil sector

  • By Al Mayadeen English
  • Source: Al Mayadeen
  • 20 May 2023 21:41
  • 2 Shares
4 Min Read

The Sanaa government and China sign an agreement on investments in the country's oil sector as Yemen embraces foreign investments in its oil exploration sector.

  • x
  • This September 29, 2018 file photo shows idle cargo and oil tanker ships at the port of Hodeida, Yemen (AP)
    This September 29, 2018 file photo shows idle cargo and oil tanker ships at the port of Hodeida, Yemen (AP)

The Sanaa Ministry of Oil and Minerals signed Saturday a memorandum of understanding (MoU) with the Chinese Antonoil oil company and a representative of the Chinese government to invest in oil exploration in Yemen.

The MoU was signed "after many negotiations and coordination with several foreign companies to convince them to invest in this field in light of the available investment opportunities and the advantages and facilities that investment companies will enjoy in this vital and important sector," the SABA news agency reported.

The Yemeni Oil Ministry warned foreign companies against dealing or concluding any contracts with the government of the Saudi-appointed Presidential Council.

Oil and minerals minister Ahmed Dares welcomed investment companies in the oil exploration sector in Yemen, underlining that he sought to offer facilities to push investors to come into the country.

Dares also called on companies seeking to invest in the field to go to Yemen and look into the options they have as well as the positive aspects of investing in the country.

"There are many ongoing negotiations with various high-profile companies to invest in the country's oil exploration sector," the Yemeni top official added. "There will be work to put the final touches on the signing of an MoU."

Moreover, Dares praised "the efforts of the Ministry of Oil and its endeavors to encourage investments in this vital sector, develop it, and utilize this wealth for the benefit of the country."

He also warned foreign companies against dealing with or signing any contracts with the Saudi-backed government in the country, also stressing the need for any and all oil companies working in Yemen to adhere to the agreements of nationalization and shared production that came out from the ministry of oil in Sanaa in 2018.

Related News

Yemeni drones prevent tanker from looting oil in Al-Dhaba port

The agreement signed with China is of utmost importance to the government in Sanaa at a time when Yemen's oil wealth is being looted by the Saudi coalition and the United States.

Read next: How much oil was looted from Yemen during 2022?

Ansar Allah Political Bureau member Ali Al-Qahoum praised China in late April, saying it "emerged playing a pivotal role and making agreements that restore calm, peace, and diplomatic relations between the countries of the region."

Al-Qahoum believed that "the Saudi-Iranian agreement under Chinese auspices has positive repercussions between these countries at the internal and regional levels," pointing out that "China must retrieve its vital role in the region and end Western hegemony and the disruption of the stability and sovereignty of the countries of West Asia, the destruction of nations, and the ignition of strife and wars."

China has been taking on a constructive role in the region, developing its ties with Arab nations and developing regional ties. 

Antonoil

The Anton Oilfield Services Group is a leading oilfield technology service company that operates within the areas of geological engineering while featuring production increases, cost reduction, and integration.

Its business is international and its services are spread throughout the major oil and gas-producing countries, providing customers with a full range of products and technologies for oil and gas development. 

Antonoil was established in 1999 in China. In 2007, it was successfully listed on the Main Board of the Hong Kong Stock Exchange, becoming the first Chinese private oilfield technology service company listed there.

The company built its integrated service capability in 2013 and formed the service concept of increasing production, reducing cost, and integrating, and in 2017, Anton turned became a global enterprise with an international revenue share of 70%.

Anton is committed to the in-depth development of emerging oil and gas markets, and its services are spread throughout more than 30 countries and regions, including the Middle East, Africa, Central Asia, Southeast Asia, and Latin America, as well as China.

  • Yemen oil
  • Sanaa
  • Ansar Allah
  • Yemen
  • China

Most Read

A rescued crew member from the ETERNITY C vessel in a video released by the Yemeni Armed Forces on July 28, 2025 (Yemeni Military Media)

Yemen Navy reveals fate of targeted Eternity C ship crew

  • Politics
  • 28 Jul 2025
An Israeli tank explodes following an ambush by al-Qassam Brigades in Gaza, Occupied Palestine, undated (Al-Qassam Military Media)

Al-Qassam strikes Israeli vehicles in Gaza, inflicts casualties

  • Politics
  • 30 Jul 2025
UAE lodges complaint against Israeli ambassador over 'misbehavior'

UAE lodges complaint against Israeli ambassador over 'misbehavior'

  • Politics
  • 1 Aug 2025
Protesters chant anti-Israeli slogans as they carry a banner that reads:" Freedom for Palestine, Alliance stop the war," during a demonstration in support of Palestinians in Gaza, outside the Israeli embassy, in Athens, Monday, June 9, 2025 (AP)

Athens mayor slams Israeli ambassador over Gaza war, graffiti claim

  • Politics
  • 3 Aug 2025

Coverage

All
The Ummah's Martyrs

Read Next

All
A member of the al-Qassam Brigades, the armed wing of Hamas, takes part in a parade as he celebrates a ceasefire agreement between Hamas and the Israeli regime in Deir al-Balah, Gaza Strip, Sunday, January 19, 2025 (AP)
Politics

Al-Qassam: We’ll allow aid to Israeli captives if Gaza siege ends

Freed Lebanese freedom fighter Georges Abdallah during an interview on Al Mayadeen, which aired on Sunday, August 3, 2025 (Al Mayadeen screengrab)
Politics

Exclusive: Resistance key to building state, Georges Abdallah says

United Nations Secretary General Antonio Guterres gives a statement about the situation in Gaza at UN headquarters, Friday, June 27, 2025 (AP)
Politics

UN warns Gaza faces water crisis, looming famine under Israeli siege

Israeli soldiers drive their armored personnel carrier along the Gaza Strip, in southern occupied Palestine, Wednesday, July 30, 2025 (AP)
Politics

Ex-Israeli general says Gaza starvation campaign isolated 'Israel'

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS