Gulf Sands Petroleum Company announced the discovery of oil wells, in Yusufiya -1 well which is in sector 26 in Syria, in Alrmelan area the southwestern Swediya in the Hassake, which is operated by Gulf Sands.
Oil prices drop to about 54 $ a barrel today, Tuesday, to reach a new level last seen in 22 months, as a result of the pessimistic forecasts of the global economy.
Syrian Parliament approved the bill containing the ratification of the Convention to extend the period of development and reform of production sharing contract between the Syrian government and the Syrian Oil Company and Total for a period of ten years and become a law .As the parliament approved the draft law containing the ratification of supplements to contracts between the Syrian government and the Syrian Oil Company and Shell and its partners and extend the period of development for a ten years and adjust wages transport crude oil and become a law.
Eng. Sufian Allao Minister of Oil and Mineral Resources said that decline in oil prices will not affect the price of the sale of petroleum products in Syria because prices are still low compared with markets of the world.
In the ninth of this month “competition of Lute” will start in the context of competitions of Selhy Al-Wadi Institute of International Music for young talent backed by Total For exploration and production in Syria, where the competition was launched in 2007 for the first time in a view to encouraging young talent, improve and promote their music.
Eng. Sufian Allao Minister of Oil and Mineral Resources was briefed during a tour in the province of Homs on the realities of working in a gas plant Jahar in Palmyra and other in south of the Central region and Ibla Laboratory in Alfrqls region and the latest stages in this project.
Ministry of oil and mineral resources reduced the price of phosphate 15% due to decline of global demand for this material , which ranged in price of about 180 $ per ton.
What has not been able to do tight security on both sides of the Lebanese-Syrian border to prevent smuggling of diesel fuel, prices imposed locally, has reduced the smuggling of fuel oil from Syria by 90 percent affected by lower world oil prices to below60 $, becoming the cost of plate Diesel in Lebanon less than the cost of plate after being smuggled.
Syrian and Chinese governments signed Convention on new framework to provide a soft loan worth 28 million$ to finance a project about the purchase of equipment and rigs for the Syrian Oil Company.
Syria Shell Petroleum Development Sponsored and funding finalized all necessary arrangements to start the project of ” Syria –Intelaqah,” including the holding of the first training course to evaluate the program entitled “Managing small projects” Before the start of the project officially .
