Oil, Gas & Mining
The Syrian Investment Agency has awarded a license to a Hungarian company to develop a salt mine in the eastern region of the country.
The General Petroleum Corporation is among 47 international companies prequalified to participate in Iraq’s next bidding round to be held at the end of May.
Note from the editor: Originally published on April 16, 2012, this story has been denied by the company. Link to the letter from the company at the bottom of this story.
The General Petroleum Corporation has prequalified to participate in the next exploration qualification round in Iraq, the Iraqi Ministry of Oil said.
Kulczyk Oil has provided a new estimate for its prospective reserves in Block 9 in Syria following the drilling of a well last year.
Total’s production of oil and gas in Syria rose 35 percent last year on the back of rising gas output before international sanctions forced the French company to suspend all activities.
Stroytransgaz has announced that it had completed a new stage in its maintenance contract on the South Middle Area Gas Plant.
A bomb blast hit on Saturday a gas pipeline near the eastern city of Deir-ez-Zor leading to the leakage of 700,000 cubic meters of gas.
Iraq has prepared backup plans to use an old pipeline running through Syria to export its crude should the Hormuz Strait be closed, an Iraqi Government spokesman said.
The Syrian Government has reportedly decided to allocate a percentage of the revenues of oil companies to the development of the Governorates in which these companies are located, the first time this type of measure is adopted in Syria.
The difficulty to find reinsurers and to receive a sovereign guarantee for the shipment of Syrian crude is halting plans by Indian companies to import oil from Syria, according to Reuters.
INA has formally stopped its operations in Syria, a decision that was awaited following last week’s announcement by the company that it was reviewing its options in the country after the imposition of sanctions by the Croatian Government.
Croatia’s INA Naftaplin has announced that it was reviewing the situation of its investment in central gas fields in Syria after the decision of the Croatian Government to impose sanctions on the country’s oil sector.
Updated February 15: Syria raised the prices of petroleum coke and kerosene sold in the local market as well as that of fertilisers.
A bomb blast hit on Wednesday morning a 12” pipeline supplying gas oil to Damascus, an attack attributed by SANA, the official Syrian news agency, to “an armed terrorist group,” and by an opposition group to misfiring by the Syrian army.
Assessing the Price of Imported Goods
Damascus Chamber of Commerce
2nd International Finance Markets Investment Forum 2011
Sheraton Hotel Aleppo