The director of General Petroleum Corporation Ali Abbas said that the confidence in the oil projects have not adversely affected and our investments are safe , our production is continuous, stable, and our relations with foreign companies are good, indicating that the the Coming European sanctions on the energy sector will lead to halt the shipment or delivery of oil products from the Syrian ports, and European oil companies will not leave projects inside the country.

Abbas added that “There is no company stopped production work or drilling or exploration by after the U.S. sanctions.”

This came after “Haarsk” Danish company announced ” on Saturday, cancellation of agreement for the shipment of “naphtha”, a derivative of oil, from the Banias refinery, due to the recent U.S. sanctions.

The United States imposed sanctions this month on the Syrian government, including, banning the import of petroleum products originating from Syria.

Abbas said that “the upcoming European sanctions on the energy sector, may lead to stop the shipment or delivery of oil products from the Syrian ports but ruled out that the major oil European companies leave their projects in the country.”

European diplomats Revealed last week that the new sanctions, the European Union on Syria, targeting its petroleum sector are feasibly ready and could be announced on Tuesday, last week, but has not yet announced, and includes legislation, which was prepared by the EU measures against the oil sector , especially a ban on the import of Syrian crude oil, , under an agreement reached by EU ambassadors.

Shell Petroleum company plans to to continue oil import from Syria, next month, despite international sanctions imposed on the energy sector and gas, where the data of the company show that it shipped about 8 thousand tons from the port of Banias.

British Gulf Sands Also announced that it will continue its successful operations in the exploration for oil in Syria, although the threat of European Union countries to impose oil sanctions on Syria, according to Dow Jones News Wire.

Abbas said that “these companies have investments and operations and with revenues and experts, and its presence in the country achieve the conditions that fits them and achieve our interests of this existence,” explaining that “the opportunity will be favorable for Chinese companies, in the event of withdrawal of European investments, to buy assets, investing in, a view presented in Syria, which is a bridge of energy in the region. “

He added that ” Syrian oil and gas sector would not be affected by stop cooperating with the European Investment Bank as there is no funding or loans from the bank in the oil and gas projects, unlike electric power projects, most power plants financed by loans from the European Investment Bank, and the Ministry of Electricity is looking currently for alternative sources. “

He said ..” oil projects are carried by self financing investment companies and there is no fear of difficulty in securing sources of liquidity but fear is the complexities of the movement of liquidity by the international sanctions, which would impose more restrictions on American banks and even the world, with interests with the United States, causing problems With regard to remittances or credits of foreign oil companies operating in the country. “

The EU suspended the European Investment Bank loans with Syria, hundreds of millions of euros, of which a loan worth 200 million euros to build a dedicated power plant based on natural gas power 750 MW, near Deir ezZor .

Reports indicate that Syria is based on about 28% of their income on oil export revenues, Syria, where the production of 385 thousand barrels of oil per day.

Europe buys 95 percent of Syrian exports of oil, almost a third of the country’s imports.