Syrian Petroleum Company (184)


The government has provided new data on Syria's production and trade of oil products as well as on its oil import bill.


The list below includes all the Syrian individuals, entities, aircrafts and vessels that have been put under sanctions by the U.S. Administration since 2005.


Syria’s state-owned water bottling company is seeking to expand its capacity in a sector it has a monopoly on.


In an update on its operations, the Syrian Petroleum Company says that various oil fields restarted production this year across the country.


In this 2,600-word factsheet we look at China’s economic interests in Syria.


A Lebanese media close to the Syrian regime has provided an estimate for the oil production in the Kurdish-controlled part of the country.


The Deir-ez-Zor gas plant is a gas processing and gathering plant located northwest of the city of Deir-ez-Zor.


Oil drilling and wells maintenance, other oil services


The list below includes the names of all the Syrian entities that have been blacklisted by the European Union since the beginning of the uprising in March 2011.


The Syrian Petroleum Company has extended the deadline for a tender to conduct seismic survey in an area north of Damascus as previous bidding rounds failed to attract companies.


The Ministry of Petroleum has announced the inauguration of a new gas well as it keeps investing in the oil and gas fields under its control in order to reduce the shortages of energy supplies in the market.


The Minister of Petroleum inaugurated last week the beginning of production at a new gas well near the town of Sadad, south of Homs.


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.


In spite of the poor security conditions, the Syrian authorities are continuing to develop several gas fields located in central Syria and that are crucial for keeping electricity running.


The foreign reserves of the Syrian government declined significantly at the end of 2011, confirming the rapid depletion of foreign currencies held by the Central Bank of Syria after the beginning of the uprising.


The Commercial Bank of Syria, a state-owned bank under international sanctions, said that it generated six billion pounds in profits in the first half of this year.


The Minister of Oil has named new executives to chair two joint-ventures firms with international oil companies.


Syria’s crude production fell to 153,000 barrels per day in October 2012, according to a report on Syria’s oil sector.


The Syrian Petroleum Company has denied that it had contracted a Lebanese company for the purchase of drilling equipment and confirmed it was preparing a tender for that purpose.


The Syrian Petroleum Company has contracted with a Lebanese supplier for the delivery of drilling equipment as it attempts to circumvent sanctions imposed by western and Arab countries, according to local press reports.


Suncor Energy has announced that it had written off a significant part of its Syrian assets over the unrest in the country.


The General Petroleum Corporation is among 47 international companies prequalified to participate in Iraq’s next bidding round to be held at the end of May.


The General Petroleum Corporation has prequalified to participate in the next exploration qualification round in Iraq, the Iraqi Ministry of Oil said.


The European Union has added 12 persons, including the spouse of the Syrian President, and two companies to the list of people and institutions facing an asset freeze and a travel ban.


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.


The number of tenders issued by state-owned corporations has declined dramatically in recent weeks on the back of international sanctions and reduced expenditure by the Government.


Dureid Dergham, the General Manager of the Commercial Bank of Syria, has been sacked on claims of mismanagement and embezzlement of funds, charges he strongly denies.


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.


The Commercial Bank of Syria, Syria’s largest commercial bank and the issuer of almost all the LC’s by the Government, has been placed under sanctions by the European Union following a similar measure by the United States in August.


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.


Last week, the United States imposed new economic sanctions on Syria and a ban on all US imports of Syrian crude oil, measures that are gradually increasing the heat on the country’s economy.


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.


The Syrian Petroleum Company has made a new gas discovery in the region of Qara north of Damascus, according to the Minister of Oil.


IPRMEL has begun drilling operations at the Karam-1 well in Block 24 located northeast of Syria, according to the General Petroleum Corporation.


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.


Syria’s production of crude oil stood at 387,000 barrels of oil a day in the first quarter of this year, an increase of 4,000 bpd compared to the same period of 2010, according to the Ministry of Petroleum.


IPRMEL has announced that it spud the Romman-2 well in Block 24 on March 2 and that it had acquired some 445 square kilometres of 3D seismic data during the first quarter of this year.


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


Al-Furat Petroleum Company, Syria’s largest joint-venture company in the oil sector, produced 99,000 barrels of oil a day last year, below its 2009 level but well above its projections.


Oudeh Petroleum, the company developing the Oudeh and Tishreen fields in northeast Syria, has issued a tender for the EPC of a gathering station and the upgrade of a transportation system in its fields.


Taxes and fees are expected to represent an increased share of government revenues next year, while salaries of civil servants will remain unchanged, according to newly available details on next year’s budget.


Syria's average production of crude oil stood at 387,357 barrels per day (bpd) in the first nine months of 2009, according to the Ministry of Petroleum.