SANCTIONS TAKE THEIR TOLL ON SYRIA’S OIL SECTOR
January 1st, 2012
BY PAUL COCHRANE, IN BEIRUT
THE SYRIAN energy sector is currently reeling from the sanctions imposed by the European Union (EU) and the United States in the last quarter of 2011 in response to Damascus' severe crackdown on protests that began in March of last year. Oil production has since slumped by 35% according to the Syrian government; the country lacks storage capacity; there have been attacks on pipelines; and the regime is struggling to find buyers for its heavy crude.
"People said the sanctions wouldn't have any effect, but the impact on the oil ...
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