A man holds flags adopted by the new Syrian regime
Syria’s energy sector sees glimmers of hope
Oil industry has potential for revitalisation despite political uncertainty and damage to infrastructure
Syria’s energy sector is in a dire state, with oil and gas production at low levels due to fragmented control, oil refineries unable to operate at nameplate capacities, and a power sector incapable of meeting demand due to the lack of fuel. However, the recent regime change in Damascus offers hope. Syria was producing around 400,000b/d of oil 14 years ago, but today output has plummeted to less than 100,000b/d. In 2011, the country was not only meeting its own demand but also exporting, with oil sales contributing to 25% of government revenue. Syria’s gas production fell to around 3bcm from 8.7 bcm in 2011. Syria has two refineries, a 120,000b/d plant in Baniyas and a 100,000b/d facility in
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