Space Travel News  
OIL AND GAS
Russian energy companies welcome in Syria
by Daniel J. Graeber
Washington DC (UPI) Apr 16, 2018

There's little chance Western oil and gas companies will return to Syria's economy, which needs billions of dollars in restoration, a Russian delegate said.

Russian news agency Tass reported Monday that Syrian President Bashar al-Assad met in Damascus with representatives from the Kremlin to discuss what's needed to repair the war-torn economy. Dmitry Sablin, the head of the delegation and a member of Russia's lower house of parliament, said it could take decades to recover from conflict.

"An important issue is the restoration of infrastructure," he said. "That will cost no less than $400 billion and will take from 10 to 15 years."

Western allies targeted suspected chemical weapons sites in Syria during the weekend. The conflict has the potential to pit some of the world's superpowers against one another. The Kremlin has been on the side of Assad, while the United States and its European counterparts have been opposed.

The European Union imposed an embargo on Syrian oil more than five years ago in response to Assad's crackdown on regime protestors. The Syrian oil sector was on the radar for French supermajor Total nearly a decade ago.

Referencing comments made by Assad, the Russian delegate said Damascus wasn't waiting around for Western companies to move back into the energy sector.

"We want Russian companies to work here, and we expect their fast market entry," he quoted the president as saying.

Gulfsands Petroleum was one of the last companies to stop work in Syria, saying in 2012 it was a matter of "financial and operational prudence" to halt its activity.

Economic momentum in Syria has nearly ground to a halt. Tens of millions of people in the country are in need of some form of humanitarian assistance and, according to a CIA brief, Syria has very few options.

"Long-run economic constraints include foreign trade barriers, declining oil production, high unemployment, rising budget deficits, increasing pressure on water supplies caused by heavy use in agriculture, rapid population growth, industrial expansion, water pollution, and widespread infrastructure damage," its assessment read.


Related Links
All About Oil and Gas News at OilGasDaily.com


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only


OIL AND GAS
OPEC-member Angola could be on the rebound
Washington DC (UPI) Apr 13, 2018
With production close to a two-year low, presidential action in OPEC-member Angola has the potential to reverse a steady decline, analysis finds. "Low oil prices and the fact that the majority of untapped oil reserves are located in deep and ultra-deep waters, which are more costly to develop, have discouraged foreign investors since 2014," Maja Bovcon, a senior analyst for Africa at Verisk Maplecroft, said in a brief emailed Friday to UPI. Secondary sources reporting to economists at th ... read more

Comment using your Disqus, Facebook, Google or Twitter login.



Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

OIL AND GAS
OIL AND GAS
ExoMars poised to start science mission

UAH gets NASA early-stage funding for "Marsbees" concept

MIPT physicists design a model of Martian winter

NASA's Idea to Send Swarm of Robots to Mars

OIL AND GAS
NAU planetary scientist's study suggests widespread presence of water on the Moon

Indian space agency postpones second Moon mission to October

Second blue moon of the year is last until 2020

Roscosmos, NASA to set common standards for first lunar orbit station

OIL AND GAS
SSL to provide of critical capabilities for Europa Flyby Mission

Jupiter's turmoil more than skin deep: researchers

New Horizons Chooses Nickname for 'Ultimate' Flyby Target

Jupiter's Great Red Spot getting taller as it shrinks

OIL AND GAS
First Interdisciplinary Conference on Habitability in early solar system

Outback Radio Telescope Listens In on Interstellar Visitor

Artificial intelligence helps to predict likelihood of life on other worlds

Planet hunter TESS will also help astronomers study stars

OIL AND GAS
Deep Space Industries to provide Comet satellite propulsion for BlackSky, LeoStella

Ariane 5 launches two satellites

Rocket Lab 'Its Business Time' launch window to open 20 April 2018 NZT

Student Launch Teams Rendezvous in Huntsville for NASA Competition

OIL AND GAS
China's 'space dream': A Long March to the moon

China says Earth-bound space lab to offer 'splendid' show

Tiangong-1 expected to burn up on reentering atmosphere

Earth-bound Chinese spacelab plunging to fiery end

OIL AND GAS
Trail of glassy beads helps scientists track down missing crater

Here, There and Everywhere: Across the Universe with the Beatles

A star disturbed the comets of the solar system in prehistory

Russian scientists use lasers to destroy mini asteroids









The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.