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(Financial Times-UK-Washington Post) Javier Blas - Royal Dutch Shell said Friday it will "cease" activities in Syria after the EU blacklisted three state-owned Syrian oil companies in an effort to pressure President Bashar al-Assad's regime. Industry officials say they believe that other European oil companies operating in the country, including Total of France and the London-listed Gulfsands Petroleum, will follow. The EU first imposed an embargo on oil exports from Syria in September, forcing the country to reduce production from 380,000 barrels a day to about 250,000 barrels a day one month later. 2011-12-05 00:00:00Full Article
EU Sanctions Force Shell Oil to Leave Syria
(Financial Times-UK-Washington Post) Javier Blas - Royal Dutch Shell said Friday it will "cease" activities in Syria after the EU blacklisted three state-owned Syrian oil companies in an effort to pressure President Bashar al-Assad's regime. Industry officials say they believe that other European oil companies operating in the country, including Total of France and the London-listed Gulfsands Petroleum, will follow. The EU first imposed an embargo on oil exports from Syria in September, forcing the country to reduce production from 380,000 barrels a day to about 250,000 barrels a day one month later. 2011-12-05 00:00:00Full Article
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