Syria’s hydrocarbon industry has suffered losses estimated at S£1,156bn ($11.7bn at current official rate of $1=S£98.6) since the beginning of the uprising more than two years ago. These include direct losses of S£69.4bn ($704mn) to the government from the “theft” of oil and gas (including burning), official daily al-Thawrah reports quoting Syrian Oil Ministry sources.
These “stolen” volumes consist of 5mn barrels of light oil (which it values at $102/B), 1.3mn barrels of heavy oil ($81.4/B) and 14,000 tons of LPG. Damascus additionally lost S£86.6bn ($878mn) from the damage of infrastructure and equipment, raising total direct losses to S£156bn ($1.58bn). (CONTINUED - 344 WORDS)