Oil, Gas & Mining

Syria and Oman signed last week a memorandum of understanding in the oil and gas sector, an agreement that has a political as much as an economic significance.
A government report has provided additional information on Syria’s phosphate sector.
Two new gas wells have started production in Syria, increasing slightly the country’s output.
On Sunday 22 October, the U.S.-backed Syrian Democratic Forces captured the large Omar Field east of Deir-ez-Zor, effectively leaving the Syrian regime without direct control on any of the country’s largest oil fields.
Syria’s production of phosphate has restarted after a stoppage of almost 18 months, but the revenues the government will collect will be limited.
Engineering works at the Ebla Gas Plant are set to increase the supply of natural gas to Syria’s power grid.
The Government has increased the price of fuel and gas oil sold to industrial concerns and commercial businesses.
The Syrian government has revised upward its end-of-year targets for oil, gas and phosphate production.
The success by the Syrian regime and the various militias affiliated to it last week in breaking the siege of Deir-ez-Zor could pave the way for important long-term economic benefits.
Syria’s consumption of oil products stabilized in past months as regular imports from Iran continued, according to a government official.
On August 18, regime affiliated forces took control of a large gas processing plant west of Raqqa, enabling a further increase in gas supplies.
Syria’s oil and gas production continues to increase incrementally as a potential deal with the PYD may add significant more volumes to the government’s control.
The Syrian Government continues to import substantial volumes of crude oil thanks to Iran’s financial support, an official has said.
Syria’s gas production continues to increase as a new well began production this week, while a field recently recovered from the Islamic State restarted operations.
The Syrian Government has awarded a Russian oligarch the rights to collect a share of its oil and gas revenues in exchange for contributing to free territory from the Islamic State.