Arbash: the impact of sanctions on the Syrian oil sector is simple

Energy  expert Dr. Ziad Arbash Said in a statement: The impact of European sanctions on the oil sector in Syria is relatively simple, because the international market is open in front of us.

Arbash added : Syria will not be affected by the European and U.S sanctions on oil sector, because the international market is open to Syria’s oil production of, as it can eastward because of our exports of crude oil is linked third-specific, it is possible that some Western companies violating the embargo, noting that Iran was not affected by the sanctions imposed on that side.

Arbash said that the production and extraction of oil is no longer associated with the Western countries companies only there are many countries with companies working in the field of production, including China, Syria, and even for the import of oil derivatives, so that the market is open.

He explained that Syria import all petroleum products like diesel and fuel oil and others except crude oil, and there is the rationalization of energy consumption, and therefore the import of products decreased compared to previous years.

He concluded by saying that the sanctions have not major impact on the Syrian economy.

For his part, Director of the Syrian General Petroleum Corporation Ali Abbas said that Syria has many escape exits of the European sanctions on the oil sector, despite what it will have significant implications in both financial and technical support.

Abbas said that in all cases, the effects of the European sanctions are large, both at the financial, technical or in terms of supply of equipment and software high-tech, but in return we have a large Chinese companies operating in the oil and gas sector and the financial potential is enormous. He added that if the Europeans would withdraw their investments will be a chance for Chinese companies to buy assets and investment, and thus a prelude foothold in the Middle East, particularly in Syria, which is a bridge of energy in the region, then exit the crisis is open and the solutions are short-and long-term.

Abbas told the German news Agency that Syria improve its performance in terms of negotiating with companies to attract investment and the removal of bureaucratic red tape and communication with the process, whether at the level of Eastern Russia, China or Asia.

In an interview with local media about the possibility of exit of British Shell and French Total oil companies, , Abbas said there are some European organizations that claim to target humanitarian recently started at the instigation of foreign oil companies to get out on the grounds that they provide economic support for the system, but this company is fully aware that it is working as an investor neutral and serve the interests , and have no effect.

Regarding to the impact of the protest movement in oil projects, Abbas said the consequences of security incidents in the city of Deir ez-Zor had negative repercussions on the movement of services companies, people and production processes, but no stop immanent in the work, and our investment safe so far and our production a continuous and stable, and our relations with foreign companies working good. He stressed that the impact of U.S. sanctions in the oil and gas sector is very limited.

The final data of the Ministry of Petroleum and Mineral Resources said that the Syrian exports of oil in 2010 amounted to 75.358 million barrels of heavy oil and light, the amount increased by 53.47% of the total oil produced is estimated at 140.931 million barrels. The data: The average daily production of oil amounted to 386 thousand barrels per day, an increase of 9407 barrels per day in 2009.

This has accounted for the two national (SPC and SGS) of the total production of oil Syrian accounted for 52%, as put forth 73.759 million barrels, while the production companies operating in the oil sector, the Syrian and the number eight almost 67.172 million barrels.

With regard to gas, the data and the Oil Ministry statistics indicate that the total free gas and utilities produced in Syria in 2010 amounted to some 10 billion cubic meters, a daily average of 27.5 million cubic meters, handed it to treatment plants domestic gas to 9.396 billion cubic meters and produce them about 8.939 billion cubic meters of clean gas, and because of the need has been importing 679 million cubic meters of Egyptian natural gas.

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