Oil, Gas & Mining
The Syrian government signed a production sharing agreement for the exploration and development of an offshore block, a move that was swiftly condemned by the opposition National Coalition as an “oil for arms” barter deal.
Syria’s oil output has declined further, according to the Minister of Oil.
Attacks on pipelines and other gas infrastructure have reduced gas supplies and forced the government to increase power cuts.
Forces affiliated to the Syrian opposition seized last week the Omar field, located near the eastern city of Deir-ez-Zor.
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.
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