Syria exports crude oil for the first time in 14 years

Jin10 data reported on September 2nd that a Syrian energy official stated that Syria exported 600,000 barrels of heavy crude oil from the port of Tartus on Monday, marking the first known official oil export from Syria in 14 years, based on a protocol reached with a trading company. In 2010, Syria exported 380,000 barrels of oil daily. A year later, protests against Bashar al-Assad’s rule escalated into a war that has lasted nearly 14 years, severely damaging Syria’s economy and infrastructure, including oil production. Assad was ousted last December and replaced by a government led by Islamists that pledged to revitalize the Syrian economy. U.S. President Trump issued an executive order in June this year to lift sanctions on Syria, after which U.S.-based companies began to formulate overall plans to assist in exploring and extracting oil and gas in Syria.