This is looting.” We want to keep the oil. Oil Reserves in Syria. "We're keeping the oil, remember that.
This is a list of countries by proven oil reserves.Proven reserves are those quantities of petroleum which, by analysis of geological and engineering data, can be estimated, with a high degree of confidence, to be commercially recoverable from a given date forward from known reservoirs and under current economic conditions. Oil output and production continues to decline due to technological problems and depletion of oil reserves. For the Syrian government, regaining control over its oil and gas reserves in the eastern part of its territory is crucial to paying for reconstruction efforts and social programs — especially at a time when suffocating US and EU sanctions have crippled the economy, caused fuel shortages, and severely hurt Syria’s civilian population. Syrias Oil industry faces many challenges in the years to come. Syria possessed 2.5 billion barrels of crude oil as of January 2013, which makes it the largest proved reserve of crude oil in the eastern Mediterranean according to the Oil & Gas Journal estimate. Syria's rate of oil production has decreased steadily from a peak of close to 610,000 bbl/d (97,000 mSyria's upstream oil production and development has traditionally been the mandate of the Al-Furat Petroleum Company is a joint venture established in 1985. In 2010, the sector contributed about 35% of export earnings and 20% of government revenue.


Although the Turkish offensive in northern Syria has resulted in Kurdish forces losing significant amounts of territory, most of the oil fields east of the Euphrates remain under SDF control.President Assad's government is desperate for access to its own oil fields, and without them needs to import significant quantities from abroad. Some statistics on this page are disputed and controversial. "Syrian Democratic Forces and allied tribes in eastern Syria are currently in control of approximately 70% of Syria's national oil resources and a number of valuable gas facilities," according to Charles Lister, senior fellow at the Middle East Institute. Syria has proven reserves equivalent to 48.9 times its annual consumption. The oil fields are concentrated in the province of Deir al-Zour, in eastern Syria, near the Iraqi border, and Hassakeh in the north-east.But the country's oil production has collapsed since the conflict began in 2011.In 2008, Syria produced 406,000 barrels per day (bpd), In 2011, production dropped to 353,000 bpd and had plunged to just 24,000 bpd by 2018 - a reduction of more than 90%. Think your friends would be interested? Share this story! Syria possessed 2.5 billion barrels of crude oil as of January 2013, which makes it the largest proved reserve of crude oil in the eastern Mediterranean according to the Oil & Gas Journal estimate.But after two and a half years of war, exploration is at a standstill since international oil companies once operating in Syria have abandoned their operations as the violence escalates and sanctions target Syria’s energy sector.Russia, the chief backer of the Assad regime, is the only remaining international partner still helping develop Syria’s oil and gas resources in the past year.A Congressional Research Service report found that Syria was still in discussion with Russia and China over offshore exploration in April, but few details are known.Syria also has oil shale resources with estimated reserves that range as high as 50 billion tons, according to a Syrian government source in 2010.This may explain one of the reason’s Russia has a huge stake in Damascus as its state-owned energy companies have been profiting off the despotic Assad regime.In a recent interview, Assad said, “From a purely economic perspective, there are several agreements between Syria and Russia for various goods and materials.


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