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FINANCIAL NEWS
Syria’s oil output down to 20k bpd
29 May 2013
(MENAFN) Syrian oil minister, Suleiman Abbas, stated that the country’s oil output has declined to 20,000 barrels per day (bpd) since the start of the uprising, reported AP.
Before March 11, the country’s daily output stood at 380,000 barrels, and was considered the main source of revenue for the government.
According to Abbas, the embargo imposed on the country’s oil exports by the European Union harmed Syria’s economy, depriving the government of the needed cash and fuel.
It is worth noting that as rebels have seized much of northern and eastern Syria, where most oil fields are situated, the EU put an end to its oil ban in April to permit crude shipments from rebel-held territories.
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