• $ 17.7 billion damage to the oil sector in Syria


    Most of the fields are under the control of the opposition

    $ 17.7 billion damage to the oil sector in Syria

    Total direct and indirect damage suffered in the oil sector in Syria by the ongoing revolution in the country, about 17.7 billion US dollars, according to the newspaper ' Oct ' Government on Thursday quoting Philippine oil Corporation. The ' direct losses estimated at around 2.4 billion dollars, with indirect production losses are estimated at approximately 9.5 billion dollars in deferred production or transportation. The Syrian authorities announced in August that it had supported the oil sector by around half a billion dollars in the first half of 2013, adding that the total production during the same period decreased by 90 per cent lower than it was before the start of the 31-month conflict. And oil production during the first six months of the year 39 barrels, compared with 380 Alpha before mid March 2011
    Authorities attributed it to poor security conditions in areas of the field presence and attacks on these fields of burning and destruction, in addition to economic sanctions ' imposed by European countries and the United States on the import and export of oil from Syria. The Syrian Government has supported oil continuously, in addition to electricity, sugar, rice and flour. The crisis has prompted the Government to import its need for oil in almost entirely, especially from Iran highlighted the regional allies of President Bashar Al-Assad's regime. Oil production was a major source of foreign exchange. The majority of Syrian oil fields in the North and East of the country, are mostly under the control of opposition fighters or fighters. The crisis reflected tremendously on Syrian economy, where incomes fell and the value of the national currency, and returns on investments, tourism and foreign trade to nearly zero, according to economists. 

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