Syrian Oil and Gaz News

No reduction in diesel price …Oil Minister:… reduced consumption by 20% and expectations of increased oil production

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.

 

 

Minister said “we already sell oil at cheap prices and supported by the very large sums and now we are still selling diesel for example, less than in many countries of the world. We continue to sell Bakery in seven SP. and vouchers by nine SP. and free by twenty-five pounds which is still a free price less than the world price. He pointed to efforts to meet the needs of the country ‘s production and petroleum products so as not to have any outages or other problem .
And as for the impact of changing the policy of distribution support he said:
Consumption decreased but it is difficult to give ratios that the period leading up to raise prices and the distribution of coupons to the store and buy larger quantities of need so we do not know if the decline in consumption will continue or that the result of cost control measures and teams prices and a large number of industrialists of diesel fuel, as happened to some Rationalization. Reduction and other indicators will appear at the end of the year.
Allao said that Syria’s average production of oil is 380 thousand barrels of oil per day and expressed optimism, saying: We always say that oil is in decline, but last year we produce 380 thousand barrels and we expect to increase this average figure for this year and next year and we expect that Plan more than five million barrels from the current plan and thus we expect to increase our production of oil gradually rather than previous forecasts that we are heading towards a decline.