Syrian light crude oil
Reuters - The United States has called on countries to stop buying Syrian oil and gas to pressure Syrian President Bashar al-Assad to end a crackdown against protesters. Human rights activists say more than 1, civilians have been killed during anti-government protests since March. Syria blames the violence on armed groups, who it says have killed soldiers and police. The impact of any Syrian energy disruption on global supplies would be much smaller than the loss of 1. Some European oil traders are still supplying fuel to Damascus and several international oil companies have significant interests in the country.
Syria’s Oilfield Nightmare
In the international petroleum industry , crude oil products are traded on various oil bourses based on established chemical profiles, delivery locations, and financial terms.
The chemical profiles, or crude oil assays , specify important properties such as the oil's API gravity. The delivery locations are usually sea ports close to the oil fields from which the crude was obtained and new fields are constantly being explored , and the pricing is usually quoted based on FOB free on board , without consideration of final delivery costs. Although crude oil assays evaluate various chemical properties of the oil, the two most important properties determining a crude's value are its density measured as API specific gravity and its sulphur content measured per mass.
Crude oil is considered " heavy " if it has long hydrocarbon chains, or " light " if it has short hydrocarbon chains: an API gravity of 34 or higher is "light", between is "medium", and 30 or below is "heavy". Generally, the higher the API gravity the "lighter" it is , the more valuable the crude.
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In the international petroleum industry, crude oil products are traded on various oil bourses Crude oil is considered "heavy" if it has long hydrocarbon chains, or "light" if it has short Syrian Light, °, %, Syria, Banias, Tartous. No information is available for this page.
If you think ISIS setting some Syrian oil fields on fire is a nightmare, read this article to realize that the nightmare has just started. A May 30 wire service report quoted Syrian Oil Minister Suleiman Abbas as saying that oil production in Syria was almost at a halt, and natural gas production was down by half because of the civil war. It has created a golden opportunity for smugglers to ship badly needed, heavily subsidized petroleum products to neighboring countries, where prices of these products are at least six times higher. Additionally, the loss of Syrian crude has also affected global oil markets.
Management consultants for upstream oil and gas producers and service companies. It is intended to help provide geographic context for the important oil and gas producing regions in Syria relative to the Kurd's position and the Turkish incursion.
When Washington was about to end waivers for countries importing Iranian oil in May , Iran had already lost many of its customers, in particular European refiners. Others, meanwhile, were either preparing to halt their imports, fearing U.
Crude grades
Syrian oil website. Syrian Oil and Gaz News. Jan 1, Dec 3, Nov 18, Nov 14,
How Much Oil Is Up For Grabs In Syria?
The regime of Syrian President Bashar al-Assad has had to contend with the loss of export revenue since its oil production collapsed, and it is becoming increasingly reliant on imports, thereby deepening its dependence on Iran. Rebels fighting the Assad regime have by now taken over several oil fields and processing facilities. While this provides them valuable revenue, it has also sparked conflict between factions. Syria has two principal oil-producing regions. The first fields to be developed were those discovered in the s and s around Sweidiyeh in the northeastern Hasakah Province, which have been operated by the state-owned Syrian Petroleum Company SPC. A second wave of oil production started in the s in the Euphrates Valley, running from Deir ez-Zor down to the Iraqi border, following discoveries by Pecten, a U. The mazout was generously subsidized, resulting in extensive smuggling to neighboring countries. Government income from oil made up about 20 percent of total budget revenue in the years leading up to , but by the second half of that year the conflict had taken a heavy toll on the oil industry. By autumn , EU sanctions banned the import of oil from Syria—most exports had previously gone to Europe.
In the international petroleum industry , crude oil products are traded on various oil bourses based on established chemical profiles, delivery locations, and financial terms.
