Russia News

The Tanganyika Oil Company (TOC), which was recently awarded, through its affiliate Dublin Oil, the redevelopment contract of the Oud block, in the northeastern part of the country, is finalising its agreement with the Syrian Petroleum Company.
The Syrian Petroleum Company (SPC) has finalised a production-sharing deal with the China National Petroleum Corporation (CNPC) for the development of the Kebibe field in the north-eastern part of the country.

Meanwhile, Nikolay Tokarev, head of Russia's state-owned oil company Zarubezhneft signed on February 9 the setting up of a joint-venture company with Ahmad Mualla, director-general of SPC.


Pressures from the US and Israel have led Russia to deny that it was negotiating with Syria the building of both a 1,000-MW nuclear power facility and a nuclear-powered desalination unit.


The growing integration of Syria to the regional and world economy has been one of the most important aspects of its economic policy in the last 3 years and its rising exports are believed to be one of the main factors behind last year's resumed economic growth.


In a decision that took many by surprise, Syria voted in favour of the United Nations resolution 1441, requiring Iraq to provide unlimited access to weapons inspectors and threatening it with "serious consequences" in case it failed to do so.


Ariel Sharon, Israel's Prime Minister, told the Knesset foreign affairs and defense committee that, following pressures from his Government, Russia had decided to give up its plans to sell SA-18 surface-to-air missiles to Syria.


Syria on Friday denied British accusations that it is importing smuggled Iraqi oil in contravention of U.N. sanctions, U.N. diplomats said.


Starting January 1, Syria will hold a seat in the United Nations security council for a two year period. The last time Syria was member of the council goes back to 1970-71.