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In a study about the effects of the financial crisis on Syria’s oil …. Three companies canceled their contracts and 7 cases of concessions and sale of exploration companies

local study addressed the effects of global financial crisis on oil and gas sector in Syria Said that three companies that canceled their five contracts and did not complete the procedures for signature despite the end of the negotiations, and agreement on commercial terms of the contract because of the different economic project in the circumstances of the crisis, and this is what led to be considered as uneconomic under the terms of trade agreed upon earlier.

 

study prepared by two engineers from GPC added that it is also by the effects of the crisis three companies could not complete the from its excavation to the lack of financial liquidity necessary despite the completion of key phases in these programs.

 

It also resulted in financial difficulties resulting from the crisis to forge new partnerships and mergers of many companies in the exploration in Syria, got about 7 cases of concessions and sale of the shares in these companies to address the funding crisis.

 

about the impact the petroleum refining industry, the study shows that Syria plans to build new refineries, and in response to the growing demand for energy, as study suggests the growth of gross national product in Syria that the demand for petroleum products will increase by 9% per annum for the period between 2007 and 2015 and by 3% per annum for the period between 2015 and 2030.

 

Study said that circumstances of the crisis led to a slowdown in the implementation of these projects due to the reasons for the difficulties of securing the necessary funding and economic feasibility, and one of these refineries had planned established in cooperation with Kuwait’s Nour, who withdrew because of the large volume of funds required for investment, which no longer easy decision to invest in the current circumstances.
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