Oil and Gas

The Syrian government has reportedly reached a new agreement with the Syrian Democratic Forces to increase the number of trucks carrying crude oil from Northeast Syria to government-controlled areas, as well as those carrying refined fuel in the other direction to areas administered by the Autonomous Administration of North and East Syria.
As Syria’s power crisis intensifies, the Syrian government is expanding its gas supplies to increase the production of power plants in an attempt to reduce electricity rationing hours, which have significantly increased over the past few years. 
A German company appointed a new general manager for its branch in Syria early this month in a rare move by a European company to retain a foothold in Syria despite EU sanctions on the country.

An agreement has been reached for the Russian navy to escort Iranian tankers into Syrian territorial waters, Russian media reported this week, after Israeli attacks disrupted Iranian shipments to Syria.


Prominent UK-based Syrian investor Ayman Asfari has sold his share in Gulfsands Petroleum to an investment firm owned by a Russian businessman, which now holds a controlling stake in the company.


Afek Oil & Gas, an Israeli oil company, has ceased exploration operations in the occupied Golan Heights after finding no light oil resources suitable for commercial development.