• 9 minutes WTI @ 67.50, charts show $62.50 next
  • 11 minutes The EU Loses The Principles On Which It Was Built
  • 19 minutes Batteries Could Be a Small Dotcom-Style Bubble
  • 1 hour Permian already crested the productivity bell curve - downward now to Tier 2 geological locations
  • 2 hours CO2 Emissions Hit 67-Year Low In USA, As Rest-Of-World Rises
  • 9 hours Saudi Fund Wants to Take Tesla Private?
  • 10 hours Starvation, horror in Venezuela
  • 14 hours Is NAFTA dead? Or near breakthrough?
  • 14 hours Are Trump's steel tariffs working? Seems they are!
  • 13 hours How To Explain 'Truth Isn't Truth' Comment of Rudy Giuliani?
  • 11 hours The Discount Airline Model Is Coming for Europe’s Railways
  • 5 hours Desperate Call or... Erdogan Says Turkey Will Boycott U.S. Electronics
  • 1 hour China goes against US natural gas
  • 4 hours Saudi PIF In Talks To Invest In Tesla Rival Lucid
  • 5 hours Film on Venezuela's staggering collapse
  • 9 hours Corporations Are Buying More Renewables Than Ever
Keystone XL Delayed…Again

Keystone XL Delayed…Again

The Keystone XL saga has…

The $80 Billion Megaproject Splurge In Oil

The $80 Billion Megaproject Splurge In Oil

The growing lineup of megaprojects…

U.S. Bases On Syrian Oilfields Receive New Equipment

US Military base

A new U.S. military base has been built at the al-Omar oilfield in southeastern Deir Ezzor in Syria to support combat against the Syrian military, according to a new report by Fars News.

Russian forces have recently warned of a possible attack by U.S. forces on fortified Syrian bases. The U.S. military has dispatched weapons and other equipment to the Deir Ezzor area, including missiles, military vehicles, and bridge equipment.

Smaller U.S. bases on the Koniko and al-Jafreh oilfields are also getting new equipment. In the meantime, the U.S.-backed Syrian Democratic Forces (SDF) sent troops to Jiya, Salehiyeh, and al-Tabiyeh—all villages where the Syrian military already holds positions.

Russia is moving in on Syria’s hydrocarbon assets as American leadership in the Middle East wanes. In accordance with an energy cooperation framework agreement signed in late January, Russia will have exclusive rights to produce oil and gas in Syria. The agreement goes significantly beyond that, stipulating the modalities of the rehabilitation of damaged rigs and infrastructure, energy advisory support, and training a new generation of Syrian oilmen.

Before the onset of the civil war, Syrian oil production wavered around 380,000 barrels per day. This is down from its all-time peak production rate of 677,000 barrels per day in 2002. Although the Islamic State has been driven underground, the current output stands at just 14,000–15,000 barrels per day.

Sanctions-wise, Moscow is unafraid of any consequences because most of the hydrocarbon sector’s leadership is already under European and U.S. sanctions. With a long-range goal in mind, it could even assent to the significant cost of rebuilding Syria’s oil and gas sector. The International Monetary Fund put that expense at $27 billion in 2015, but the current estimate lies most likely between $35 billion–$40 billion.

By Zainab Calcuttawala for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage

Leave a comment
  • Mike C on March 27 2018 said:
    Thieves, no regard for the lives of others. Drive the people from their land by proxy, then steal the land. Makes me sick to see ruins in the wake of our actions. Very sorry, I hope it stops.
  • Douglas Houck on March 21 2018 said:
    US bases in Syria are illegal and violate international law. 'Nuff said.

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News