Middle East Economic Survey

VOL. XLVIII

No 52

26-December-2005

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SYRIA

Petro-Canada Agrees To Sell Syrian Assets To Indian/Chinese Venture

Petro-Canada announced on 20 December that it had reached an agreement to sell the company holding its producing assets in Syria to a joint venture of companies owned by India’s Oil and Natural Gas Corporation (ONGC) and the China National Petroleum Corporation (CNPC) for C$676mn ($578mn), before adjustments. The sale is retroactive to 1 July...