China (500)


Conflicting narratives abound in Syria, as the government and those participating in the unrest across the country endeavor to shape how Syrians and the outside world interpret the country's tumult.


Gulfsands Petroleum said that it made a new discovery in Block 26 as output from existing fields stood at an average of 20,700 barrels of oil a day.


Al-Furat Petroleum Company, a joint-venture between the Syrian Government and Royal Dutch Shell, lifted 92,000 barrels of crude oil a day in the first quarter of this year.


For the first time in five weeks, President Bashar al-Assad offered no concessions the day before Friday's planned mass after-prayers protests.


Design, develop, manufacture, sale and maintain diesel engines


Syria’s newly-appointed Minister of Economy has said that his Government will work on reducing the price of gas oil and try to make of Syria a second Singapore.


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


Trading and contracting


The English transcript of the interview of Syrian President Bashar Al-Assad with the Wall Street Journal on January 31, 2011.


The number of tourists that entered Syria in 2010 stood at 8.5 million, a year-on-year increase of 40 percent, while tourist revenues rose 60 percent, confirming that the country’s tourism sector was finally getting closer to its potential.


Gulfsands Petroleum has announced that its latest drilling operations had yielded positive results with the Twaiba well potentially yielding up to 9 million barrels of reserves.


Demand for electricity rose 4.2 percent last year, according to Hisham Mashfej, head of PEEGT, the state-owned power utility.


Syrian exports declined by a third last year as Iraq continued to take an increasing share of the country’s total international sales, according to official trade statistics.


Cemena, a subsidiary of Gulf Finance House, has announced that it had awarded the contract to build and equip a cement plant in eastern Syria with an annual capacity of 2 million tons to CBMI of China.


The English transcript of statements made by Syrian President Bashar Al-Assad following talks with his Indian counterpart on November 27, 2010.

The level of remittances to Syria is estimated by the World Bank at USD 1.4 billion for 2010, a figure significantly higher than in previous estimates.

Al-Badia Cement (ABC) has announced that it would start production from its plant in Abou Shamat next month.

A new centre specialised in the wholesale trade of mobile phones and accessories is under construction in the area of Qaboun, a district of Damascus.
The number of tourists that entered Syria in the first nine months of 2010 stood at 6.6 million, a year-on-year increase of 46 percent, according to the Ministry of Tourism.
China National Petroleum Corporation has gained the approval of Chinese state authorities to buy 35 percent of Syria Shell Petroleum Development.

The National Bank of Egypt (NBE) has decided to open a representative office in Syria, instead of a fully-fledged subsidiary, because of the high capital required for local banks, according to Khaldoun Al-Muwakaa, the chairman of the Syrian-Egyptian Bu...


Syria's average production of crude oil increased by around 3 percent in the first half of this year as new joint venture companies begun production.



China National Petroleum Corporation will begin construction of a USD 2 billion refinery in Syria in the second quarter of next year, according to press reports.


Syria was the 4th largest source of medicines and the 5th largest source of body care items intercepted in 2009 by the EU customs for infringement of intellectual property rights.

China National Petroleum Corporation (CNPC) has acquired a 35 percent stake in Syria Shell Petroleum Development (SSPD), until then a fully-owned subsidiary of Royal Dutch Shell.
Syria's production of crude oil will decline by around 7 percent in the next five years, according to estimates from the Ministry of Petroleum.
DPS, a British engineering firm specialised in the upstream oil and gas sector, has won a contract to relocate and re-assemble a gas gathering station in the region of Palmyra.
The Container Terminal of Tartous, managed by International Container Terminal Services, Inc. (ICTSI), a Filipino firm, saw an increase of 23 percent in the volume of goods handled in the first quarter of this year.
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.