Oil, Gas & Mining

Syrians once again find themselves facing long queues at petrol stations as shortages of oil products in the country resume, bringing a few weeks of relative stability to an end. 
More details have emerged about an American company which appears to have won exclusive rights to develop and market oil produced in northeastern Syria after obtaining a sanctions waiver from the U.S. government.
Two new fuel trading companies have emerged in Syria’s northwest, both of which are believed to be affiliated with Hayat Tahrir Al-Sham (HTS), highlighting the hardline Islamist group’s control over the sector.
Iran continued to export crude oil to Syria last month, although the rate of deliveries fell after rising notably in October, according to a shipping monitoring website.
Pro-regime media outlets have published new details of a Serbian-Omani company’s long-term contract to extract phosphates in Syria, a few weeks after the oil minister revealed the controversial deal.
The Syrian government has awarded tens of millions of dollars worth of contracts to companies to supply equipment and spare parts for its two major oil refineries, including a major contract to a company owned by the Katerji family.
There has been a significant surge in Iranian oil exports to Syria for the second time this year, according to several reports confirmed last month. The shipments—which mostly came through Syria’s ports, in addition to some smaller land cargoes—were likely delivered in an attempt to help ease Syria’s oil crisis ahead of the winter season.
The government has awarded an unknown Serbian-Omani venture, which appears to be a front company for unidentified investors, a contract to extract phosphate from mines near Palmyra, according to a reliable local publication, which has since deleted its story.
The government has doubled the price of fuel oil and increased the price of petrol by 80 percent, a move that will significantly increase prices across the Syrian economy, and reduce both the competitiveness of Syrian manufacturers and the purchasing power of the population.
The Ministry of Domestic Trade and Economy boosted the price of unsubsidised petrol by nearly half last week, possibly paving the way for further price increases after the minister suggested subsidies should be eliminated altogether.
A blast damaged a pipeline transporting gas to the Jabsseh gas plant, highlighting the continuous impact of the Islamic State on Syria’s economic activity.
The Ministry of Petroleum and Mineral Resources has announced a new increase in gas production across several wells and facilities in the country.
An American company has signed a contract with the Syrian Democratic Forces to develop oil production and marketing in northeastern Syria and has received a sanctions waiver from the U.S. administration.
Syria’s production of salt at its main mine in Deir-ez-Zor will surge within a year, according to government estimates.
After a suspension in April, Iranian oil exports to Syria resumed in May, according to preliminary estimates.


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