Syrian Oil: ‘$48bn Losses’

Damascus says “direct and indirect loss” to the oil and gas sector in Syria since the March 2011 start of the country’s civil war have reached $48bn.

Oil minister Sulaiman al-‘Abbas, tells local daily al-Watan that since then “terrorist groups” have stolen a cumulative 43mn barrels crude and flared 1.2 bcm of gas. He says the regime, which produced 55mn cfd of gas in the first half of 2015, will try to maintain output at this level.

The minister says that despite the US and EU sanctions on Syria, the government has managed to supply the domestic market with products in the first half of 2015 and is now in the process of sourcing supplies for the second half of the year. (CONTINUED - 269 WORDS)