Canada targets Syria oil with new sanctions
Category: Companies Operating in Syria | Posted on: 5-10-2011
Canada announced on Tuesday it was banning new investment in Syria’s oil sector as part of a fresh sanctions package but it was not immediately clear whether Suncor’s <SU.TO> Syrian operations would be affected.
Suncor operates the C$1.2 billion ($1.1 billion) Ebla project in Syria, supplying natural gas to the domestic market. Its partner is Syria’s General Petroleum Corp.
The measures include:
* a ban on providing financing for new investment in the oil industry or the acquisition, purchase, supply or importation of petroleum or petroleum products in Syria
* a ban on the importation, purchase, acquisition, carrying or shipment of petroleum or petroleum products from Syria
