Warning: count(): Parameter must be an array or an object that implements Countable in /home/syriaoil/www/www/english/wp-includes/post-template.php on line 284

Total “declares adherence to the prohibition of buying Syrian oil .. But will continue extraction

the French oil company “Total” Revealed on Saturday, that they will abide by the embargo imposed by the EU on buying Syrian oil, but it announced that it will continue extraction of oil from Syria.

According to (AFP) “Total” spokesman said that “certainly the company is committed to sanctions which stopped buying , the Syrian oil or oil derivatives “, but the French group would not stop its work in the extraction of oil in Syria.

The European Union agreed to impose sanctions on Syrian oil exports on Friday, escalating pressure on President Bashar al-Assad as protesters across Syria vowed to choose “death rather than humiliation.”

However, the EU sanctions do not include the ban of any of the European investment in the Syrian oil sector, , and this is what allows the French company to complete its business in Syria without breaching EU sanctions resolution.

For his part, Francis Perrin of the Arab Center for the oil said that “it is very rare that the oil company to go further than the letter of the sanctions.”

And reached the Syrian oil production last year and 387 thousand barrels of Syria’s exports amounted to 110 thousand barrels, and reports indicate that Syria is based on about 28% of their income on oil export revenues,.

The European market’s main partner institution Syrian oil, amounting to Union imports 3.1 billion euros last year, according to European sources, and Europe imported 95% of Syria’s oil in 2010 were distributed to Germany 32% Italy 31% France 11%, Netherlands 9%.

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.”

You might also like

Comments are closed.