Oil and Gas
Iran's crude oil exports to Syria have remained stable for the third quarter of the year, while on a year-on-year basis, total crude oil exports from Iran have increased.
The government has recently increased the prices for gas oil and butane gas cylinders in the midst of a worsening economic crisis and severe oil and gas shortages.
The Syrian Minister of Petroleum and Mineral Resources Bassam Tohmeh confirmed to local media that the Syrian section of the Arab Gas Pipeline (AGP), a trans-regional pipeline that passes through Egypt, Jordan, Syria, and Lebanon, is ready to transport Egyptian gas to Lebanon.
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.
The government has announced additional new gas production as it seeks to meet its significant electricity production shortage.
Syria’s Ministry of Petroleum and Mineral Resources restarted production last week from a gas well formerly developed by Croatian oil company INA Naftaplin as it seeks to boost gas supplies amid acute shortages.
The administration in charge of northeast Syria has announced the introduction of a new smart card system to manage the sale and distribution of subsidised oil products that are in short supply.
Exports of crude oil from Iran to Syria remained stable on average during the first half of 2021, according to a website that tracks oil shipping data, with more than 13 million barrels shipped in total.
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.
Production from Gulfsands Petroleum’s main asset in Syria remained at 20,000 barrels per day last year, according to its 2020 annual report in which the company said plans to return to the country continued “at pace”.
Aid groups operating in Syria are studying options for importing their own fuel into the country as shortages of oil products hamper their activities.
The autonomous administration in charge of northeast Syria reversed a decision to raise prices of oil products last week in response to a popular backlash, illustrating the constraints it faces in enacting economic policies.
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.
Disruptions to oil shipments from Iran, including the recent Suez Canal blockage, have intensified fuel shortages in Syria, paralysing the country’s public transportation system and stoking public anger.
Syria's President Bashar Al-Assad has ratified a USD 13-million production sharing agreement (PSA) contract with Russian company Kapital LLC, further consolidating the dominance of Russian firms in the country’s oil and gas sector.
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.
Syria’s oil and gas sector has suffered USD 91.5 billion in losses since the start of the conflict in 2011, the Ministry of Petroleum and Mineral Resources said.
Updated on March 26,2021: Syrian President Bashar Al-Assad ratified a USD 22-million production-sharing agreement (PSA) contract with Russian company Stroytransgaz Engineering (STG-Engineering) in December, according to documents reviewed by The Syria Report.