The Syrian oil sector returned to the series of losses, following the tightening of sanctions imposed since 2011 on Syria, after Washington activating it, as part of the campaign of sanctions imposed on Iran since last January, which stopped Tehran's oil supply to Damascus, estimated at 66 thousand barrels per day, after the Syrian oil production drop from 385 to about 25 thousand barrels of crude oil per day.
Ali Ghanem, the Syrian Minister of Oil and Mineral Resources, revealed that the losses of the oil sector in Syria amounted to $74.2 billion, since the start of the crisis in 2011 and because of terrorist acts.
Syria's production of oil during the war declined from 385 thousand barrels to about 25 thousand barrels per day, and Syria, the exporter of about 150 thousand barrels of oil worth 5 billion dollars a year before 2011, converted to an importer of more than 130 thousand barrels per day. Oil exports accounted for more than 40 per cent of export earnings, and about 24 per cent of Syria's GDP and 25 per cent of the Syrian budget revenues.
Source: (Al-Arabi Al-Jadeed newspaper, Edited)
