Oil, Gas & Mining
The government has confirmed it has reached a preliminary agreement with Soyuzneftegaz, a Russian energy company, for the exploration of its offshore waters, a week after the visit to Damascus of the company’s vice-chairman.
Syria’s Prime Minister has met with a representative of a Russian energy company to explore the development of the country’s offshore resources.
Syria's imports of crude oil and refined oil products stood at some $3 billion in the first nine months of the year, according to the minister of oil, Sulaiman Al-Abbas.
Theft of crude oil and damages to wells have cost Syria’s oil sector the equivalent of around USD 2 billion since the beginning of the Syrian uprising, according to the Ministry of Oil.
Syria's import of crude oil and other oil products continues to run in the hundreds of millions every month, according to the minister of oil.
The Syrian government increased the price of gasoline last week, the fourth such hike in less than a year.
Gas and oil facilities located in Syria’s eastern region were hit last week leading to a decline in electricity production in the area.
Gas plants operated by the government in central parts of Syria are working at almost full capacity according to the minister of petroleum.
Chinese companies operating in Syria have left the country after a call by Beijing on all its citizens to avoid travelling to Syria, the spokesman of the Chinese foreign ministry said last week.
Syria’s phosphate production in the first six months of 2013 was well below historic averages, according to government statistics.
The subsidy bill for oil products reached SYP 112 billion in the first half of this year, according to the minister of petroleum.
Iran and Syria formalised last week an agreement for the disbursement of some USD 3.6 billion of Iranian funds to Damascus that will be used to purchase oil products.
Iran and Syria have signed a framework agreement for the transport of Iranian gas through Iraqi territory and onto Syria.
Syria’s oil and gas industry has lost more than USD 13 billion in the last two years, according to the Ministry of Oil.
Syria’s exports of phosphate in the first six months of this year were well below historic averages, according to official statistics.
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