China (500)


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.

*By Ben Simpfendorfer
The rise of China is one of this century’s great stories. The country ranks as the world’s third largest economy, the world’s second largest oil consumer, and one of the largest holders of United States government debt. It is no surprise that the sudden slowing in China’s economic growth, from 13 percent to 7 percent, has captured the attention of bankers and CEOs alike.

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 Petroleum Corporation (GPC).


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.

Production at fields redeveloped by Dublin International Petroleum Syria Ltd (DIPL) stood at 9 266 barrels of oil a day in the second quarter of this year according to a statement from the company.

Syria is still far from its target of a social market economy, says Taysir Raddawi, the head of the State Planning Commission.

Shell will devise a master plan for the development of the gas sector in Syria, following an agreement signed between the Anglo-Dutch firm and the Ministry of Petroleum.

Syria’s total foreign trade volume rose to SYP 1 trillion (USD 20 billion) in 2006, an annual increase of 12 percent, according to preliminary estimates from the Central Bureau of Statistics.

Syria’s production of cotton is expected to drop by a third in the 2006/2007 crop to 650 000 tons


Syria is moving closer to build its first privately-held oil refinery, according to Abdallah Dardari, Deputy Prime Minister.


Joud Group is planning to set up a steel billet manufacturing plant in the industrial city of Adra, some 35 km north east of Damascus, in joint-venture with unnamed Syrian and Lebanese investors. The plant will have an annual production capacity of 512...


Ten new blocks will be offered for concession in the coming two months according to the Syrian Minister of Petroleum


Sysacco, Syria’s first caustic soda and hydrochloric acid manufacturing company will start production next May, according to its general manager, Ourwa Sabbagh.

IPR Energy, has started drilling works on Block 24, in the eastern region of Syria.

Syria, Jordan and Saudi Arabia are in the first stages of reviving the old Hijaz railway line after the signature of an agreement between a Syrian-based company, Balkees Real Estate, Industrial and Commercial Investment Company, and the Hijaz Railways ...


Shell’s new investment in Syria is part of a long-term strategy says Campbell Keir, General Manager of Shell Syria, following the signing of two production sharing contracts with the Ministry of Oil