Oil Reserves in Syria Syria holds 2,500,000,000 barrels of proven oil reserves as of 2016, ranking 31st in the world and accounting for about 0.2% of the world’s total oil reserves of 1,650,585,140,000 barrels. Syria has proven reserves equivalent to 48.9 times its annual consumption.

What does Syria import and export?

The bulk of Syrian imports have been raw materials essential for industry, agriculture, equipment, and machinery. Major exports include crude oil, refined products, raw cotton, clothing, fruits, and cereal grains.

Is Syrian oil nationalized?

ARTICLE ONE – All companies for oil and fuel in the Syrian Arab Republic shall be nationalized and shall become the property of the State. These companies are the following: (1) Socony Vacuum Oil Company of Syria. (2) The Syrian Shell Company, Limited.

What resources does Syria produce?

Aside from oil and gas, Syria’s natural resources include phosphate; iron, chrome and manganese ores; marble; gypsum; asphalt; and salt as well as others.

Who owns oil in Syria?

Syria’s two biggest oil companies are the Syrian Petroleum Company (SPC), which is owned by the Syrian Ministry of Petroleum and Mineral Resources, and Al-Furat Petroleum Company which is 50% owned by General Petroleum Corporation and the other 50% are foreign owned.

Does Syria have lots of oil?

Syria’s known oil reserves are mainly in the eastern part of the country in the Deir ez-Zor Governorate near its border with Iraq and along the Euphrates River, and a number of smaller fields are located in the center of the country. In 2010, Syria produced around 385,000 barrels (61,200 m3) per day of crude oil.

Who controls oil in Syria?

What kind of products does Syria export to other countries?

Exports: The top exports of Syria are Pure Olive Oil ($122M), Spice Seeds ($70.6M), Other Nuts ($42.4M), Tomatoes ($25.3M), and Apples and Pears ($25.3M), exporting mostly to Saudi Arabia ($145M), Turkey ($116M), Egypt ($90.4M), United Arab Emirates ($53.4M), and Jordan ($43M).

How much oil does Syria export per year?

In 2009, Syria’s net petroleum exports were estimated to be 148,000 bbl/d (23,500 m3/d). All oil exports are marketed by Sytrol, Syria’s state oil marketing firm, which sells most of its volumes under 12-month contracts.

Who is benefiting from the oil in Syria?

The two countries signed an energy co-operation agreement in 2018 giving Moscow exclusive rights to rebuild the Syrian oil and gas sector. It’s in this context that President Trump has declared his own interest in benefiting from the oil his troops are defending.

Who are the two largest oil companies in Syria?

Syria’s two biggest oil companies are the Syrian Petroleum Company (SPC), which is owned by the Syrian Ministry of Petroleum and Mineral Resources, and Al-Furat Petroleum Company which is 50% owned by General Petroleum Corporation and the other 50% are foreign owned.