• 3 minutes Nucelar Deal Is Dead? Iran Distances Itself Further From ND, Alarming Russia And France
  • 5 minutes Don Jr. Tweets name Ukraine Whistleblower, Eric Ciaramella. Worked for CIA during Obama Administration, Hold over to Trump National Security Counsel under Gen McCallister, more . . . .
  • 9 minutes Shale pioneer Chesepeak will file bankruptcy soon. FINALLY ! The consolidation begins
  • 12 minutes China's Blueprint For Global Power
  • 5 mins EU has already lost the Trump vs. EU Trade War
  • 8 hours Impeachment S**te
  • 2 days Science: Only correct if it fits the popular narrative
  • 15 hours 55.00 WTI
  • 1 hour More dumbed down? re Hong Kong Act of Congress
  • 2 hours Article: Did Exxon only make $39 Million onshore U.S. last quarter ?
  • 2 days IEA predicts oil demand will grow annually at 1 million barrels a day for the next 5 years
  • 2 days Crazy Stories From Round The World
  • 22 hours Everything You Need To Know About Trump
  • 17 hours Water, Trump, and Israel’s National Security
  • 40 mins U.S. Shale To Break Records Despite Bearish Rhetoric
  • 14 hours Visualizing Pennsylvania Oil & Gas Production (Through September 2019)
  • 17 hours Pope Proposes New Sin: Thou Shalt Not Destroy The Harmony Of The Environment
  • 2 days ‘If it saves a life’: Power cut to 1.5 million Californians
  • 2 days Pioneer's Sheffield in Doghouse. Oil upset his bragging about Shale hurt prices. Now on campaign to lower expectations, prop up price.
Why Isn’t Winter Pushing LNG Prices Higher?

Why Isn’t Winter Pushing LNG Prices Higher?

he mid-2020s LNG supply and…

The Race To Develop A 50 Billion Barrel Oilfield

The Race To Develop A 50 Billion Barrel Oilfield

China has clearly become the…

Iran To Build Power Plant In Syria

Power Plant

Iran and Syria signed on Tuesday a memorandum of understanding under which Iran will build a power plant in Syria’s coastal city of Latakia in a project worth US$475 million (411 million euro), Iran’s Islamic Republic News Agency (IRNA) reported today.

The project will be launched next year, IRNA reported, in what could be another energy cooperation agreement between Iran and Syria.

In the complex Syrian conflict, Iran has been providing military support to the government of Syrian President Bashar al-Assad and now, according to experts on Iran who spoke to Reuters, Iran may be looking to get economic and financial benefits from its support.

The deal on Tuesday was signed by Mahmoud Ramadan, the head of the Syrian public authority for electricity generation, and Abbas Aliabadi, the managing director of Iran’s infrastructure conglomerate MAPNA Group, on the sidelines of a meeting in Tehran between the energy ministers of Iran and Syria, Reza Ardakanian and Mohammad Zuheir Kharboutli, respectively.

According to IRNA, the first gas unit at the Latakia power plant should be completed in 15 months, while the second unit will take 24 months to complete. A third unit at the plant will run on steam and is planned to be completed within 34 months, IRNA quoted the Syrian energy minister as saying.

The natural gas for fueling the power plant will be supplied from Syrian sources and will be transported via a 70-km (43.5 miles) pipeline, the Syrian minister noted.

Earlier this week, Iran and Syria discussed enhancing cooperation in the electricity sector, IRNA reported on Monday.

In September last year, Syria and Iran signed a memorandum of understanding, under which Iran would repair the power grid in Syria.

While Iran is helping Syria’s energy sector, Tehran’s oil exports continue to drop just five weeks before the U.S. sanctions return.

According to preliminary tanker tracking data compiled by Bloomberg, observed exports of Iranian crude oil and condensate plunged in September to 1.72 million bpd, down by 260,000 bpd month-on-month and the lowest level since February 2016.

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:

Join the discussion | Back to homepage

Leave a comment
  • JACK MA on October 02 2018 said:
    I am sure the neo-con murdering thug war-hawks running Washington D.C. are furious about Iran and Russia and Syria. Washington is a toxic fever nest of fascism and they cannot do anything about the fact that they have lost the ME. When SA if forced to accept the Yuan for oil payments or lose more market share to Russia, the dollar hegemony empire collapses forever. Americans will be the last to know the wicked trouble they are in as the final collapse of the petro dollar approaches. 320 million face book addicted a dumbed down folks state-side are about to get a real wakeup call. Hyperinflation of USD is the outcome of all of this geopolitical chaos. IMHO

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News
Download on the App Store Get it on Google Play