4 % is the growth in demand for oil a year in Syria

A report of the Investment Authority showed that there is a decline in the volume of production and it is expected that the demand for petroleum products by about 4-5% annually since Syria has become a net importer of petroleum products.

The report pointed out that the political and economic opening of Syria to the world played a critical role in directing foreign investment into the oil and natural gas production, refining and production of oil derivatives, in addition to that in Syria, currently operates two refineries oil refinery with a total capacity of 240 thousand barrels per day Syria seeks to the development of these two refineries and contracting for a new refinery to produce more oil derivatives, in particular light products that fit well with European standards to ensure the local needs of the different energy sources .

Syria is seeking to convert the consumption of energy sources from oil to natural gas and is looking to take advantage of its geographical position as a conduit for the transfer of a key passage of Egyptian natural gas and Iraq and Iran so that they can secure their needs of natural gas.

The report noted that the estimated volume reserves of natural gas in Syria has reached 8.5 trillion cubic feet of total production is consumed locally in addition to import about 5 billion cubic feet.

Syria-oil