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Petroleum Minister: losses in oil sector estimated at $ 60 billion since 2011

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Damascus, SANA- Minister of Petroleum and Mineral Resources Suleiman al-Abbas said on Monday that the oil sector suffered from difficult production conditions last year due to the attacks of armed terrorist organizations on petroleum facilities, particularly the gas domain.

“The oil sector in Syria also suffered from the attacks of international coalition that targeted infrastructure, gas and oil wells, causing huge material losses, particularly in installations and main pumping equipment,” Al-Abbas said at a meeting to discuss production and investment plans.

He estimated the value of losses in the oil sector since the start of the crisis until today at nearly USD 60.446 billion.

The Minister affirmed that in spite of that difficult situation, Petroleum Ministry had the ability to keep satisfactory production averages in gas and to supply power generating stations with fuel and gas to continue the circle of production.

Mazen Eyon

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