Gulfsands (107)

28-06-2016

Al-Mashrek, the investment arm of Rami Makhlouf, Syria’s most prominent business tycoon, has taken to court Gulfsands Petroleum over claims that its share in the UK-based oil company has been diluted.

22-03-2016

Ayman Asfari, one of Syria’s wealthiest individuals, has reportedly bought a significant stake in a company with significant oil assets in Syria and which includes among its other shareholders one of the regime's most powerful business tycoons.

24-11-2014

Syria’s Kurdish regions are producing an average of 40,000 barrels of crude oil per day, according to a report in the Wall Street Journal.

19-05-2014

Soyuzneftegaz, a Russian oil and gas company, is raising its involvement in Syria’s energy sector by increasing its stake in an oil company that has sizeable assets in the country.

09-09-2013

Gas and oil facilities located in Syria’s eastern region were hit last week leading to a decline in electricity production in the area.

10-04-2013

For the first time in years Gulfsands Petroleum derived no revenues from its Syria operations in 2012, the company's chairman said in a note to shareholders.

17-09-2012

Hungary’s MOL, which is a strategic shareholder of INA Naftaplin, a Croatian oil company with assets in Syria, said that operations in its Syrian fields were continuing, calling them illegal.

28-03-2012

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.

11-03-2012

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.

27-02-2012

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.

31-01-2012

Updated February 6: Gulfsands Petroleum has said that drilling operations in the Khurbet East 102 well had encountered oil and gas with total recoverable reserves estimated at around 19.2 million barrels of oil equivalent and that it would now stop all activities in Syria.

30-01-2012

The European Union and Canada have expanded the blacklists of Syrian individuals and entities they are sanctioning on the back of the handling by the Syrian authorities of the popular uprising gripping the country.

02-01-2012

Russia’s Tatneft has become the latest oil company to announce the suspension of its operations in Syria.

26-12-2011

Gulfsands Petroleum has announced that it was continuing exploration works in Syria only a few days after announcing its suspension of production activity.

19-12-2011

Kulczyk Oil Ventures has announced that the initial exploration period for Block 9 has been extended 11 months by the Syrian Government.

12-12-2011

Suncor Energy and Gulfsands Petroleum have announced that they were suspending their operations in Syria in light of the latest sanctions announced by the European Union.

06-12-2011

Total of France has stopped oil production in Syria in compliance with recent EU sanctions as a growing number of international companies operating in the country are considering taking similar steps.

05-12-2011

The international community has continued to raise the heat on the Syrian Government through new economic sanctions with Turkey joining in and the EU announcing new significant measures.

23-11-2011

Syria produced an average of 378,091 barrels of crude oil per day in the first nine months of the year, according to the Ministry of Oil, as international sanctions led to a reduction in output in the third quarter.

16-11-2011

Total of France has become the latest oil company operating in Syria to acknowledge that it had stopped receiving payments from the Syrian Government for its crude exports.

17-10-2011

Gulfsands Petroleum has announced that it has not received payment for its August production, raising fears for the company's prospects as well as for the government's finances.

17-10-2011

Loon Lattakia, the Syrian subsidiary of Kulczyk Oil, a Canadian-Polish independent oil company, has announced that it is suspending exploration works in Block 9.

10-10-2011

Gulfsands Petroleum has announced that the Syrian government has asked it to lower its production even further, confirming the difficulties the Syrian authorities still have in the marketing of their oil.

03-10-2011

INA Naftaplin, a Croatian oil company, has become the latest firm to announce a reduction in production in its Syrian fields as the government faces difficulties finding buyers for its crude.

26-09-2011

In a widely expected move,  on Friday the European Union imposed a ban on all new investments in the Syrian oil industry, although existing operations will not have to be discontinued.

18-09-2011

The Syrian government has extended for a second time a bidding round for exploration in its offshore waters as Europe readies an investment ban on the oil sector.

05-09-2011

The four businessmen and three corporations sanctioned by the European Union last week form part of a growing list of business actors that are feeling the weight of the international pressure on Syria.

29-08-2011

Gulfsands Petroleum, a UK-based oil company, has disclosed its ties to Rami Makhlouf, a prominent local businessman recently put under sanctions by the European Union.

22-08-2011

There are currently just under two dozen international companies operating in the Syrian oil industry from the exploration and production sectors to related services. The companies are listed below.

22-08-2011

There are currently just under two dozen international companies operating in the Syrian oil industry from the exploration and production sectors to related services. The companies are listed below.

22-08-2011

Updated August 22: IPR, an independent oil and gas company based in the United States, has said that it made a modest new discovery in Block 24 with a flow rate of 100 barrels of oil and 10 million cubic feet of natural gas a day.

15-08-2011

A new round of sanctions announced last week on Syrian corporations and individuals, as well as hints that western countries may move against Syria’s oil industry, raise questions as to the impact these measures may have on the economy and the manner in which the regime is handling the country's popular revolt.

15-08-2011

Gulfsands Petroleum has announced that a new well in its Khurbet east find tested at a flow rate of 5,516 barrels of oil per day as the company commissioned a new production facility.

03-08-2011

Syria’s production of crude oil remained stable in the first half of this year at 387,250 barrels a day, an increase of 957 barrels a day compared with the same period of last year, according to the Ministry of Petroleum.

18-07-2011

Loon Lattakia, a partially-owned subsidiary of Kulczyk Oil, and Gulfsands Petroleum are drilling new wells in Blocks 9 and 26 located in the northwest and northeast parts of the country.

05-06-2011

Gulfsands Petroleum said it had failed to find oil in commercially viable quantities in the Abu Ghazal-1 well and that it was stopping works there.

18-05-2011

Syria awarded an exploration license on Block 7, located in the northeast of the country, to HBS, a Tunisian oil company.

12-05-2011

Gulfsands Petroleum said that it made a new discovery in Block 26 as output from existing fields stood at an average of 20,700 barrels of oil a day.

11-05-2011

Al-Furat Petroleum Company, a joint-venture between the Syrian Government and Royal Dutch Shell, lifted 92,000 barrels of crude oil a day in the first quarter of this year.

10-05-2011

The European Union has announced an asset freeze and travel ban on a number of Syrian personalities, including Rami Makhlouf, one of the country’s most prominent businessmen.

11-04-2011

Gulfsands, an independent oil and gas producer active mainly in Syria, said its profits rose 58 percent last year on the back of growing production at its Khurbet East and Youssefieh fields located northeast of the country.

13-03-2011

The Ministry of Petroleum and Mineral Resources has appointed new board chairmen for three joint-ventures established between the state and independent oil companies.

09-03-2011
10-01-2011

Gulfsands Petroleum has announced that its latest drilling operations had yielded positive results with the Twaiba well potentially yielding up to 9 million barrels of reserves.

16-12-2010

Thirteen companies, including seven already present in Syria, have forwarded bids to explore eight oil blocks in Syria, according to the Ministry of Petroleum.

15-11-2010

Gulfsands Petroleum has announced that Saipem S.p.A. will build the Central Processing Facility to be installed at the Khurbet East oil field on Block 26.

13-09-2010

Gulfsands has announced that it had relinquished 25 percent of its exploration licence for Block 26 after an agreement with the General Petroleum Corporation.

02-08-2010

Syria's average production of crude oil increased by around 3 percent in the first half of this year as new joint venture companies begun production.

 

01-08-2010

Gulfsands Petroleum has announced that the gross oil production in its Syrian fields has increased to approximately 20,000 barrels of oil per day during the month of July.