Geographic Feature: Yemen

Thursday, September 3, 2026. YEMEN OIL AND GAS PROFILE. RESERVES: Oil reserves consistently estimated at ~3 billion barrels (Masila, Marib/Sab'atayn, Shabwa basins), stable since ~2009, ranking ~27th globally. Natural gas reserves ~478.55 BCM (~16.9-17 TCF), ranking ~33rd globally (~0.22% world total), sufficient for >500 years at current rates. PRODUCTION: Oil production 2024-25 averaged ~19k-22k bpd (IMF/EII), down sharply from ~439k bpd early 2000s, ~50k+ bpd 2024 some trackers. IMF baseline ~19k bpd 2025 rising ~19.5k 2026, 20k 2027; other estimates current domestic-focused ~20k bpd or lower (7-10k bpd S&P Global recent years). Export resumption government aims ~60k bpd upon restart (~40k bpd export potential after ~20k domestic/refinery); stockpiles exceed 1.7M bbl. Gas production/consumption extremely low ~10.38 MCM 2024 (unchanged YoY), fully matched domestic consumption; primarily associated gas, minimal standalone, no imports/exports. Domestic distribution Yemen Gas ongoing truck-based provinces (hundreds trailers monthly Aden/Taiz/Hadramout mid-2026), limited local supply reliance. UNDISCOVERED RESOURCES: USGS mean estimates ~261M bbl oil, 4.5 TCF gas, ~122M bbl NGLs across key basins (Sab'atayn, Say'un-Masila, Jiza-Qamar). HISTORICAL AND OUTLOOK: Production peaked ~450k bpd ~2002; sharp drops since 2015 (war, infrastructure attacks, export terminal closures). Main production/reserves Sab'atayn (Marib), Say'un-Masila (Masila/Hadramout), Shabwa; mature province declining fields. LNG/gas infrastructure limited; Yemen LNG noted but minimal amid conflict. Economic context IMF 2026 oil production factors low GDP growth (~0.5% or negative conflict scenarios); revenues critical but hampered. Security/outlook exports/production ramp (potentially +25%) depend stability; Houthi issues/conflict continue disrupt. Wood Mackenzie describes Yemen mature war-affected province shut-ins since 2015, limited IOC activity. Global comparisons oil reserves ~0.17% world total; gas production ranks ~90th. Conflict-ravaged reserves. Time to watch carefully.