Oil, Gas & Mining

In a surprise move, Russia’s Soyuzneftegaz, an oil and gas company exploring Syria’s offshore areas, has announced that it was withdrawing from the Syrian market.
The Syrian Ministry of Petroleum has updated its estimate of the losses suffered by Syria’s gas industry since the beginning of the uprising in March 2011.
New details have emerged on the level of exports and revenues generated by the PYD, the Kurdish party in control of Syria’s northeastern region, from crude oil.
The vice-President of Stroytransgaz, one of Russia's largest engineering companies, visited Damascus last week, reportedly seeking new project opportunities.
After having found hydrocarbons in a previous exploration site, Afek Oil, an Israel oil company, is pursuing its drilling operations in Syria’s Golan Heights, under occupation by the Zionist state since 1967.
Syria’s minister of oil has estimated that the Islamic State is still producing significant levels of crude oil from fields in eastern Syria.
A website affiliated to the opposition has said that a delegation from the Islamic State is negotiating with the Syrian Government over a gas treatment plant in Deir-ez-Zor.
A fortnight after increasing the price of gasoline and kerosene, the Syrian Government has hiked the price of heating oil.
Crude oil extracted from fields controlled by the YPG, the Kurdish armed group, stands at 15,000 barrels per day, according to a report by AFP.
The Syrian Government has increased for the second time in two months the price of gasoline and kerosene.
Syria’s production of oil, gas and phosphate remained mostly stable in the second quarter of this year, according to official data, in spite of the loss of various fields and mines to ISIS last Spring.
The U.S administration believes that ISIS is generating some USD 500 million per year from oil revenues alone, an estimate that seems to be on the high side.
Syria is planning to purchase 200 thousand tons of liquefied petroleum gas from Russia, using a shipping route through Crimea to conceal the supplier’s identity.
Syria continues to import crude oil from Iran at a regular pace, data from the International Energy Agency show.
The fighting between government forces and ISIS in the area of Palmyra is continuing to disrupt oil and gas production and distribution.


6th Damascus Insurance Forum
Four Seasons Hotel
Dama Rose Damascus Hotel