US pledges $10 mln to prevent an oil spill in Yemen

The US government has agreed to provide USD 10 million to prevent an oil spill from an aged FSO offshore Yemen, US Secretary of State Antony Blinken announced on Wednesday.

The money will be put towards transferring the 1.14 million barrels of oil held on the 45-year-old Safer FSO to a more secure vessel. The vessel is currently located off the Hodeida port in Yemen’s Red Sea.

The four-month project requires investments of around USD 80 million. So far USD 41 million has been pledged in addition to the US’ current promise.

According to the UN, no FSOs are available for the transfer and the project will require conversion of an oil tanker.

“An oil spill or leak would cost the world billions to clean up, devastate Red Sea marine life, impede global commerce in a major international waterway, destroy the livelihoods of those that depend on fisheries, and worsen an already critical humanitarian situation in Yemen,” said Blinken.

Source: US pledges $10 mln to prevent an oil spill in Yemen – The Energy Year