Aden Refinery denies rumors of 10 billion SAR sale

The Aden Refinery Company has issued a formal clarification denying social media reports claiming the facility was sold for 10 billion Saudi Riyals. The company stated that the circulating document is actually an unsigned draft of a commercial agreement from April 2026, which was intended to facilitate the import of petroleum derivatives for the Yemeni market and re-export them to East African and Horn of Africa nations.

According to the company, negotiations between three firms and the National Bank of Yemen failed to reach a satisfactory conclusion, leading to the cancellation of the project. The company emphasized that the 10 billion SAR figure mentioned in the draft represented proposed documentary credits for purchasing oil products, not a sale price for the refinery's assets.

Management reaffirmed that the refinery remains a state-owned government institution and that no assets have been mortgaged or ownership transferred. The company expressed concern over the spread of misleading information based on incomplete documents and stated its ongoing commitment to restoring the refinery's economic role and operational capacity.