Special to WorldTribune.com

NICOSIA — Syria has reported a significant drop in crude oil
production amid Western sanctions.

Syrian Oil Minister Sufian Alaw reported oil production at no more than
270,000 barrels per day, down from 380,000 barrels in early 2011.

Alaw attributed the sharp decline to sanctions imposed by the European Union and
the United States, which include a ban on financing energy exports from
Syria.

“The imposed sanctions affected the export of crude oil and oil
derivatives to Europe,” Alaw said on Nov. 4.

Alaw said Syria could increase oil production with the restoration of
export opportunities. The minister said Damascus was discussing oil export
deals with more than 50 companies and traders.

  European Union, Sanctions have sharply curtailed Syrian crude oil output, Syrian Oil Minister Sufian Alaw, U.S. sanctions