EU Ban Forces Syria to Cut Oil Production
Source: Financial Times, Javier Blas (9/26/11)
"Industry executives and oil traders said the country had been unable to attract buyers despite offering discounts."
Syria has told foreign oil companies to cut production as a backlog of crude fills its storage capacity because the government has been unable to bypass an embargo on exports imposed by the European Union.
Syria has sought to sell its oil to nations outside the EU, which before the ban bought about 95% of the country's crude exports. . . View Full Article