Security officials in the eastern restive province of Marib confirmed on Thursday that tribal militants targeted a major oil pipeline in Habab, the second attack of its kind over the past 48 hours.
Sabotage attacks in Marib have significantly increased in frequency over the past weeks. Last Sunday, gunmen attacked a pipeline in the Valley of Obeida by detonating explosives at different points, as to maximize their strike and force the authorities to halt the flow of oil.
Such acts of sabotage have already cost Yemen dearly, both in lost revenues and unscheduled repairs.
The Oil and Mineral Ministry has estimated that for every day the pipeline remains closed the country is losing about $15 million, something the impoverished nation cannot possibly afford as it is battling to keep its ailing economy afloat.
Moreover, while Yemen relies almost solely on its oil industry to finance its state budget, oil exports have been as well the government's main source of foreign currency. Should Yemen stop exporting its oil and gas to the world, Yemen Central Bank will find itself in a precarious position, unable to back its debts.
It is such vulnerability, tribal militants have been taking advantage of, hoping that by exerting enough pressure on Yemen's economic artery, they would force state officials to submit to their demands, might they be political or financial.