Syria oil output dives 96 per cent

Syrian Oil Minister Suleiman al-Abbas says his country is currently producing a mere 14,000 barrels per day, down from its pre-war level of 385,000

AAP

(AAP) Source: AP

Oil production in Syria has plunged 96 per cent since the start of the anti-government uprising in 2011, with most wells now in rebel-held areas.

Oil Minister Suleiman al-Abbas said on Sunday Syria is currently producing a mere 14,000 barrels per day, down from its pre-war level of 385,000, state news agency SANA reported.

He blamed the plunge in production on "an increase in attacks by terrorists against oil facilities, Western sanctions and the decision by foreign oil firms to suspend operations" in Syria.

Most of Syria's oil wells are in the east and north, in areas controlled by the rebels who the government describes as "terrorists".

The oil industry was the country's main earner of foreign currency before the conflict erupted in mid-March 2011.

A collapse in production has triggered petrol shortages across the country, bolstered black market sales and prompted the government to import almost all its oil needs, mostly from ally Iran.


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Source: AAP



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