|
The US benchmark crude futures contract on Friday settled at $99.68 per barrel in New York, while it's North Sea counterpart, Brent, settled at $107.96 a barrel in London. Separately, Syria's oil minister said that international sanction had affected oil production in the country. Sufian Allaw said that production was down by about 35 percent, reaching 255,000 barrels per day. Allaw said Syria was no longer exporting crude and that European oil companies like Shell and Total had halted their operations in the country because of EU sanctions. "We have no ability to export now" because of the sanctions, he said. The measures were imposed as Syria's government comes under tremendous criticism for its deadly approach to dealing with protesters demanding the end of President Bashar Assad's regime. The United Nations says more than 5,000 people have been killed since March, when the uprising began and the regime responded by deploying tanks and troops to crush protests across Syria. Allaw said that current oil production effectively covered domestic refining capacity and that Syria still needed to import refined fuels.
[Associated
Press;
Copyright 2011 The Associated
Press. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.
News | Sports | Business | Rural Review | Teaching & Learning | Home and Family | Tourism | Obituaries
Community |
Perspectives
|
Law & Courts |
Leisure Time
|
Spiritual Life |
Health & Fitness |
Teen Scene
Calendar
|
Letters to the Editor