Syrian oil sector has lost $65 billion.

Petroleum and Mineral Resources Minister Ali Ghanem claimed that oil sector has suffered heavy loss, amounted to about $65 billion. Syria switched from exporting to importing oil. However, due to its durability, the country has managed to satisfy all the country’s needs.

Ghanem noted that it is very complicated to provide the country, especially taking into account the embargo targeted at Syria by some exporters which result in price increase. This is why Syria does everything to become self-sufficient and seeks for new oilfields and builds new oil derricks. Minister Ghanem specifically noted that refinery workers in Homs and Banias have managed to recommence operations which helped to save huge sums of money for the government.

Ali Ghanem also stated that a gas refinery is being currently rebuilt in Adra. Also, there is a project to expand a gas plant in Banias, and the construction of a gas station is completed in Sinjwan, Latakia. Now gas cylinders are being sold there.

Minister Ghanem claimed that all the phosphates country has were distributed to several manufacturing sectors. Each of them will be relying on private investments. He also noted that land will be provided to private businesses for building petroleum stations. All the territories which had been successfully protected by the army and are in stable condition have to be able to provide basic service, and building petroleum stations is one of the main steps for getting back to normal life.

06. 04. 2017, 16:04