Middle East Economic Survey

VOL. XLIX

No 6

6-February-2006

SYRIA

Petro-Canada Closes Sale Of Syrian Producing Assets

Petro-Canada announced on 31 January that it has closed the sale of its Syrian oil producing assets for 484mn before adjustments to a joint venture, consisting of Indias Oil and Natural Gas Corporation (ONGC) and China National Petroleum Corporation (CNPC). The sale is retroactive to 1 July 2005. The agreement to sell Petro-Canadas producing assets in Syria to the joint venture was...