Oil, Gas & Mining

Syrian President Bashar al-Assad has reportedly issued laws ratifying three contracts granting the Qaterji brothers a strategic role in Syria’s oil distribution sector.
Al-Furat Petroleum Company, once Syria’s largest oil company, has announced the rehabilitation of new wells west of the Euphrates River.
The Syrian parliament ratified on December 16 three oil contracts signed between the government and two Russian oil companies.
Two gas wells located in Sharifa, east of Homs, have started production, adding one million cubic metres of gas per day—an increase which should help reduce power cuts this winter.
The Syrian President has sent parliament a draft law to ratify three contracts awarded to the Qaterji brothers to build two oil refineries and develop the Banias oil terminal.
A Syrian state entity has announced that it will begin bartering phosphates for equipment and repair services as it finds itself incapable of paying foreign suppliers.
An explosion at the Banias Refinery last week killed a worker and could impact the distribution of oil products if the damage is extensive.
The Ministry of Petroleum has rejected demands that it supply more cooking gas to Syrian households at subsidised prices, citing shortages as winter approaches.
Syrian imports of Iranian crude oil doubled in the six months through the end of September, according to recent data, increasing inventories.
The decision by the U.S administration to keep hold of Syrian oil fields postpones any hope by the government to benefit from this resource in the short-term.
A trade fair on the oil sector held in Damascus this week saw little participation but was co-organised by an Iranian-linked body.
The minister of petroleum has provided a new update on the oil, gas and mining sectors.
The Ministry of Petroleum has announced the beginning of production at a new gas well north of Damascus.
The government has awarded two Russian companies three contracts for the exploration and production of oil and gas in various parts of the country, the first such deals for onshore blocks since 2011.
A new gas well in the Arak field located east of Palmyra started production on September 5, according to the Ministry of Petroleum and Mineral Resources.


Damascus International Fairground
Syrian International Microfinance & Banking Exhibition 2015
Dama Rose Damascus Hotel