China (300)

Loon Lattakia, a wholly-owned subsidiary of Kulczyk Oil, plans to begin drilling in Block IX next year, according to Edwin Beaman, Vice-President for Operations and Engineering.
Gulfsands Petroleum has reported a 31 percent increase in its reserves as at the end of 2009, as the UK firm is attracting strong interest from potential investors.
National Bank of Kuwait has received a preliminary approval from the Syrian and Kuwaiti monetary authorities to establish a bank in Syria, Ibrahim Dabdoub, Chief Executive Officer of NBK Group, said.
The Ministry of Transport paid SYP 1 billion in subsidies last year to finance the discount fares offered to users of the main cities public transport systems, according Yarob Badr, Minister of Transport.

Venezuela might increase its stake in the Furoqlos Oil Refinery project to provide it with the financing needed for its launch, Sufian Al-Allaw, Syria’s Minister of Petroleum, said.

Kulczyk Oil has announced that it has awarded BGP, a subsidiary of China National Petroleum Company, a contract to conduct a 375 square kilometre 3D seismic survey in the south-eastern section of Block 9.

Syrian textile manufacturers have been severely impacted by trade liberalization and the global crisis. The Ministry of Industry and the United Nations Industrial Development Organization (UNIDO) have launched a programme to increase the competitivenes...



The Syrian Commission on Financial Markets and Securities (SCFMS) has announced that the cumulative losses of French Mountain Juice (FMJ) had reached 79.14 percent of its paid-up capital.


Syria’s Ministry of Electricity has awarded two new EPC projects that will add 1,050 MW in power capacity.


Tatneft, a Russian oil company, is planning to start production of some 5,000 barrels of oil per day from its fields located in eastern Syria.


Iraq was Syria's main trading partner last year according to data from the Central Bureau of Statistics.
Syria ranked 107th in the world in the Human Development Index released last week by the United Nations Development Programme .

Gulfsands is to issue shortly the tender for the design, construction and installation of a processing facility to serve the Khurbet East and Yousefieh fields with a capacity of 50,000 barrels of fluid per day.

After showing interest in Emerald Energy, which holds a 50 percent stake in one of Syria’s fastest growing oil fields, Sinochem, a state-owned Chinese company is now looking to buy Gulfsands Petroleum, according to British press reports.

Sinochem, a state-owned Chinese enterprise, is purchasing Emerald Energy, a company that holds 50 percent of the rights over Block 26, northeast of Syria, for an estimated value of USD 878 million.

Syria's average production of crude oil declined to 376,852 barrels per day (bpd) in the first half of 2009, according to the Ministry of Petroleum.

Gatoson Ltd, a Chinese Holding firm, is establishing an economic zone dedicated to Chinese investments in the region of Hama.


SYRIAMAR, or the Syrian General Establishment of Maritime Transport, will acquire two new vessels for its fleet at a cost of USD 42.5 million.


Al Badia Cement will begin production in the second half of 2010-early 2011, according to Matteo Rozzanigo, Middle East Development Manager at Ciments Français.


Syria's average production of crude oil stood at 379,049 barrels per day (bpd) in the first quarter of 2009, according to the Ministry of Petroleum.


Petro-Canada has denied that it had received an offer from China National Petroleum Corporation (CNPC) for its assets in Syria and Libya.


The English transcript of the interview of Syrian President Bashar Al-Assad with Der Standard on April 18, 2009.


Syria’s two mobile phone operators are attracting renewed interest from foreign investors according to various press reports.


CNPC is eyeing Petro-Canada’s Syrian assets, according to Chinese press reports.


The Syrian Parliament has ratified an agreement that will see China provide a concessionary loan of Yuan 250 million (USD 36.6 million) to finance the purchase of equipment for the General Organization of Oil (GOO).


Proton, a Malaysian car manufacturer, plans to triple its sales in Syria within the coming five years.


Sinopec has announced that it had completed the acquisition of Tanganyika Oil Company.


Syria's average production of crude oil stood at 379,494 barrels per day (bpd) in the first three quarters of this year, according to the Ministry of Oil.


Hamisho Economic Group will begin production in its new car assembly plant in the last quarter of 2009, according to Imad Hamisho, Chairman of the Group.

China Petroleum Technology and Development Corporation (CPTDC) will supply USD 50 million worth of drilling equipment and materials to the Syrian Petroleum Company (SPC).
Syria is moving ahead with plans to build a gas pipeline linking its gas network with the Akkaz field in Iraq.
Syria’s crop of pistachios is expected to reach 60,000 tons in the 2007/2008 season and rise to 70,000 tons in 2008/2009.
China Dalian International Economic and Technical Cooperation Group Co Ltd. has won a contract to build four gas storage tanks in the coastal city of Banias.

The English transcript of the interview of Syrian President Bashar Al-Assad with Monday Morning on September 30, 2008.

The Syrian President has issued a decree that is expected to protect local industry from unfair imports competition and increase revenues for the Treasury.
Sinopec, China’s state-owned oil company has agreed to buy Tanganyika Oil Company for a total amount of USD 2 billion.
ONGC Videsh is in talks to purchase a controlling stake in Tanganyika Oil Company, according to media sources.

Al Badia Cement’s Initial Public Offer was oversubscribed by 171 percent according to a press statement from the company.

Syria’s trade deficit increased three-fold in 2007 to reach USD 2.1 billion, the highest level in over two decades.
Al Badia Cement is raising SYP 1.8 billion through an Initial Public Offer to be held between July 3rd and August 1st.

The English transcript of the interview of Syrian President Bashar Al-Assad with The Hindu Daily on June 12, 2008.


Al Badia Cement has signed a Memorandum of Understanding with China’s CBMI to build a cement plant in the area of Abu Al Shamat near Damascus.


Syria’s production of steel billets will reach 1.15 million tons in 2009, following the commissioning of two new plants.


CNPC and the Syrian Government have signed a memorandum of understanding for the construction of an oil refinery with a daily capacity of 100,000 barrels of oil.


Interview with Nichola Antakli, CEO of Intraco Corporation, on the challenges for a US firm doing business in Syria.

General Motors Middle East announced on March 13 that it had appointed Intraco as the GMC distributor in Syria.


Syria will start importing light crude oil in 2009, according to Omar Al-Hamad, Director-General of the Syrian Petroleum Company (SPC).


China’s Haifei Automobiles expects its total exports to Syria in 2007 to reach 20,000 cars. At the end of November it had sold 18,000 cars.


The Syrian government has signed an agreement with Iran, Venezuela and a Malaysian consortium to build a 140,000-barrel per day refinery in central Syria.


Tanganyika Oil Company has confirmed the technical difficulties faced by its Syrian subsidiary, Dublin International Petroleum Syria Limited.

The Ministry of Economy is pursuing its liberalisation of foreign trade and authorizing the import of a growing list of products.