Ministry Claims $60bn Oil Sector Losses

Syrian oil minister Sulaiman al-Abbas says that the country’s oil and gas sector has suffered “direct and indirect” losses of $60.4bn between 2011 and end-2015.

The minister said that oil production from government-controlled areas averaged 9,500 b/d in 2015, just 2.5% of the pre-civil war output of 387,000 b/d.

Frequent attacks by armed men on oil and gas installations continue, he says. In addition, the air raids by the US-led international coalition had also targeted the oil and gas infrastructure, causing serious damage to major pumping facilities in the country, he said, without any reference to the damage caused by the Russian airstrikes in Syria. (CONTINUED - 481 WORDS)