The oil reserves in Saudi Arabia make it a strong strategic ally to the United States, despite may blatantly problematic aspects of the country. A group of men smuggle diesel fuel from Syria to Turkey hoping to sell it at a higher price, across the Al-Assi River in Darkush town, in the Idlib countryside May 26, 2013.

Syria’s oil reserves are small relative to the reserves of some of its neighbors, but the oil and gas sector is a crucial contributor to Syria’s government revenue and foreign exchange earnings. Syria has contributed very little to global oil production following the outbreak of civil war in 2011, but Syrian Kurds rely heavily on revenue from the reserves it does have. Syria was never a large oil producer compared to its resource-rich neighbors.

Syria possessed 2.5 billion barrels of crude oil as of January 2013, which makes it the largest proved reserve of crude oil in the eastern Mediterranean according to the Oil & Gas Journal estimate.

Syria is a relatively small oil producer, that accounted for just 0.5% of the global production in 2010,Syria is the only significant crude oil producing country in the Although Syria produces relatively modest quantities of oil and gas, its location is strategic in terms of regional security and prospective energy transit routes.Syrian oil exploration first began in 1933 during the French Mandate by the However, Syria produced 406,000 barrels per day (bpd) in 2008, but the oil production dropped to 353,000 bdp in 2011 and had plunged to just 24,000 bdp by 2018, a reduction of more than 90%,Besides the Civil War and the imposition of international sanctions, Syria's oil sector faces a number of challenges, including a decline in output and production resulting from technological problems and a depletion of oil reserves.


Syrias Oil industry faces many challenges in the years to come. Syria possessed 2.5 billion barrels of crude oil as of January 2013, which makes it the largest proved reserve of crude oil in the eastern Mediterranean according to the Oil & Gas Journal estimate. Although the Turkish offensive in northern Syria has resulted in Kurdish forces losing significant amounts of territory, most of the oil fields east of the Euphrates remain under SDF control.President Assad's government is desperate for access to its own oil fields, and without them needs to import significant quantities from abroad. "Although most of these facilities are operating far below their pre-war production levels," he says they remain "an important source of SDF income". Director of National Intelligence James Clapper, in a testimony to Congress in March, said Russia's support for Assad includes selling Syrian oil on world markets. Since peaking at 590,000 bbl/d in 1996, Syrias oil output has fallen, to an estimated 460,000 bbl/d in 2004, as older fields, especially the large Jebisseh field discovered in 1968, have reached maturity. In this way, Canada's proven reserves increased suddenly in 2003 when the oil sands of Sources sometimes differ on the volume of proven oil reserves. Turkey slams US over oil deal with YPG in Syria ANKARA.

Syria's rate of oil production has decreased steadily from a peak of close to 610,000 bbl/d (97,000 mSyria's upstream oil production and development has traditionally been the mandate of the Al-Furat Petroleum Company is a joint venture established in 1985. "It’s about money and it’s about oil....Of course we are angry, every Syrian is angry. Syria holds 2,500,000,000 barrels of proven oil reserves as of 2016, ranking 31st in the world and accounting for about 0.2% of the world's total oil reserves of 1,650,585,140,000 barrels. Syria’s oil production hub has long been under the control of the U.S.-backed SPF, but with the U.S. now planning to pull out the race is on to secure the area In 2018, Syria had an estimated 2.5 billion barrels of oil reserves, compared with Saudi Arabia's 297 billion, Iran's 155 billion and Iraq's 147 billion barrels. Different sources (Because proven reserves include oil recoverable under current economic conditions, nations may see large increases in proven reserves when known, but previously uneconomic deposits become economic to develop. Share this story!

Before its descent into civil war, Syria was producing 387,000 barrels of oil per day, of which 140,000 were exported to buyers including Germany and Italy. Oil revenues have helped support Kurdish forces who use the profits for military purposes and to run a civil administration The petroleum industry in Syria forms a major part of the economy of Syria. Syria’s proven oil reserves amount to 2.5 billion barrels (bb). We want to keep the oil. Syria possessed 2.5 billion barrels of crude oil as of January 2013, which makes it the largest proved reserve of crude oil in the eastern Mediterranean according to the Oil & Gas Journal estimate.But after two and a half years of war, exploration is at a standstill since international oil companies once operating in Syria have abandoned their operations as the violence escalates and sanctions target Syria’s energy sector.Russia, the chief backer of the Assad regime, is the only remaining international partner still helping develop Syria’s oil and gas resources in the past year.A Congressional Research Service report found that Syria was still in discussion with Russia and China over offshore exploration in April, but few details are known.Syria also has oil shale resources with estimated reserves that range as high as 50 billion tons, according to a Syrian government source in 2010.This may explain one of the reason’s Russia has a huge stake in Damascus as its state-owned energy companies have been profiting off the despotic Assad regime.In a recent interview, Assad said, “From a purely economic perspective, there are several agreements between Syria and Russia for various goods and materials.

This is looting.”

The oil fields are concentrated in the province of Deir al-Zour, in eastern Syria, near the Iraqi border, and Hassakeh in the north-east.But the country's oil production has collapsed since the conflict began in 2011.In 2008, Syria produced 406,000 barrels per day (bpd), In 2011, production dropped to 353,000 bpd and had plunged to just 24,000 bpd by 2018 - a reduction of more than 90%.
Think your friends would be interested? Forty-five million dollars a month. Independent sources estimate Syria's proven oil reserves, recoverable at costs not exceeding $5/b, at less than 2.5 bn barrels.