Oil, Gas & Mining

The revenues of the Islamic State from crude oil have decreased by two thirds since 2015, a Russian official has said.
The Syrian government has awarded a Russian company a contract to extract phosphate from its mines in central Syria, a government official has said.
A British oil company that has rights over oil fields located in northeast Syria has said that production at these fields has increased significantly since the beginning of the year although it receives no revenues from them.
The Syrian Minister of Petroleum has provided several new numbers on Syria’s oil and gas sector.
Iran is resuming oil supplies to Syria after a hiatus of several months, a government official has said.
A Russian company that was granted the right to explore Syria’s waters for oil and gas is reportedly returning to Syria after a two-year suspension of its activities.
The Ministry of Petroleum and Mineral Resources has released production data for the first quarter of this year, although some of the numbers do not seem realistic.
On April 26, regime forces took back the large Shaer gas field and are now in control of most of Syria’s main gas reserves even though production is not expected to restart before months.
Russian oil engineering companies are reportedly already active in Syria as the Syrian President said that new contracts would be granted to them.
The Syrian government has raised markedly the price of gas oil sold to all commercial concerns and announced a doubling of its oil import deals.
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.
Repair and maintenance works in the Hayan field by the Ministry of Petroleum highlight how the government is trying to capitalize on its recent gains in the central area to increase oil supplies.
Syrian manufacturers that are able to pay in foreign currency will be given priority when buying oil products, a rare instance of the government encouraging the use of the dollar in the domestic market.
A recent law regulating investment in quarries will increase state revenues from the sector fifteenfold, according to a government official.
An attack on Syria’s last standing gas processing plant temporarily shut down most electricity production across the country, highlighting the extreme weakness of the country’s energy infrastructure.


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