Oil & Gas
The gas pipeline that will eventually link Egypt to Syria will be partly funded by Arab financial institutions.
Egypt's Orient Gas company completed the first phase of the pipeline linking Egypt to Jordan, Lebanon and Syria.
A Damascus meeting next week, will discuss Cyprus' future energy needs with both Syria and Egypt, its prospective suppliers of gas, Cyprus energy minister said.
Conoco and TotalFinaElf SA have brought the USD400 million associated gas project in Deir-ez-Zor (eastern Syria) to full capacity of 13 million m3/day, said TotalFinaElf.
Petro-Canada, one of Canada's largest oil and gas companies, has acquired the international oil and gas operations of Veba Oil & Gas, for a price of USD3.2 billion.
Australia's BHP Petroleum has joined the race with France's TotalFinalElf and Conoco from the US to develop gas fields in the region of Palmyra.
The Syrian government is planning to build a new oil refinery in the eastern province of Deir el-Zor.
Syria produced 2.043 million tons of phosphate in 2001, exceeding the planned production by around 300,000 tons.
According to Ibrahim Haddad, the new oil minister, the priority of his ministry will be to lift all the bureaucratic and administrative hurdles that foreign oil companies complain of in their dealings with Syria.
Opec announced yesterday it will reduce its crude oil output by 1.5 million barrels per day for six months starting January 1, under a rare and tough deal with rival independent oil producing nations.
Syrian crude oil exports for January are down versus this month, but the jury is still out on whether supplies continue to flow full-force through a pipeline from Iraq, industry sources said yesterday.
Syria produced 1.38 million metric tonnes of phosphate during the first 10 months of the year, according to the director of the Phosphate Mines Company in Palmyra, central Syria.
The Energy Intelligence Briefing, a newsletter published by the New York-based Energy Intelligence Group, estimated in its edition published yesterday that Iraq's oil exports through Syria, carried out without a UN approval, continued at a rhythm of ar...
Syria and Lebanon are signing today an agreement for the sale and transport of Syrian gas to a Lebanese power station, said Al Mustaqbal.
In an interview to Al Hayat, Khaled al Mahayni, the Syrian minister of finance said that revenues from oil will make up 50.2% of the state expected revenues for next year.
According to industry sources, Syria's hefty oil export plan for December shows that around 150,000 barrels per day of unauthorised Iraqi crude is still displacing domestic production in refineries, reported Zawya.
Iraqi oil minister Amir Mohammed Rasheed told Al Rafidain newspaper that Iraq and Syria could announce the companies chosen to build a 1.4m bpd pipeline by the end of the year, reported Al Quds.
President of the Royal Dutch /Shell Oil Group, Yuron Van Der Vir recently met with top-level officials in Damascus to discuss the possibility of future oil excavation projects in Syria reported Al Bawaba.
The Ministry of petroleum and mineral resources has offered several new investment projects in the extraction and production of its mineral resources, reported Al-Quds.
Several large oil traders have expressed their doubts on the capacity of Syria to keep its current oil exports level, said the Lebanese daily Al Mustaqbal.