Syria’s proven oil reserves, [View all]

[Ichingcarpenter]

Syria’s proven oil reserves, amounting to 2.5 billion barrels, are greater than those of all neighboring countries except Iraq: according to the U.S. Energy Information Administration’s estimation of its oil reserves. This makes Syria one of the largest producers and exporters of crude oil in the Middle East.

The country also has large reserves of natural gas, hitherto used for domestic consumption, especially for conversion to gas-fired power plants. But there is a problem, the U.S agency reported that since 1964 the license for the exploration and exploitation of mineral deposits has been reserved for Syrian government agencies. Until 201O an annual income of more than $ 4 billion was procured from the export of oil, particularly to Europe. But things are changing with the war.

The ‘”Free Syrian Army” has taken control of important oil fields in Deir Ezzor. Other fields, in the Rumeilan, are controlled by the Kurdish Democratic Union Party, who are also hostile to the “rebels” with whom they have repeatedly clashed.

http://www.globalresearch.ca/oil-and-pipeline-geopolitics-the-us-nato-race-for-syrias-black-gold/533021