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[Asia Times-Hong Kong] Stephen Starr - Syria's key oil and gas sector, which contributes a quarter of its GDP, is suffering from declining production as oil fields dry up. State-owned companies pumped 610,000 barrels out of the ground every day in 1995. Today, that is down to 350,000 barrels a day, with slightly less than half going to export. Meanwhile, consumption is soaring. In a move that may improve output, Chinese oil giant Sinopec has bought out a Canadian firm's oil exploration interests in Syria for $2 billion. 2008-10-10 01:00:00Full Article
China to Explore for Oil in Syria
[Asia Times-Hong Kong] Stephen Starr - Syria's key oil and gas sector, which contributes a quarter of its GDP, is suffering from declining production as oil fields dry up. State-owned companies pumped 610,000 barrels out of the ground every day in 1995. Today, that is down to 350,000 barrels a day, with slightly less than half going to export. Meanwhile, consumption is soaring. In a move that may improve output, Chinese oil giant Sinopec has bought out a Canadian firm's oil exploration interests in Syria for $2 billion. 2008-10-10 01:00:00Full Article
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