- LONDON: European oil companies are continuing multi-million dollar trade with Syria’s President Bashar Assad, providing his government with a key source of funds despite its crackdown on protesters that has prompted widespread calls to halt trade.
Traders reported that French oil major Total had sold a cargo of the oil product naphtha to Spain’s Repsol, set to load from Syria’s Banias refinery on Monday.
The 30,000 ton cargo is worth close to $30 million. Both companies declined to comment.
Several traders said a tender for the sale of two, larger crude oil cargoes was also won by the same French and Spanish companies earlier this week. The companies also declined to comment on these reports.
More than 1,700 civilians have been killed since the uprising against Assad began in March and the US has joined the chorus calling for a boycott of Syrian oil and gas, the goverment’s primary source of hard currency.
The UN Human Rights Council has scheduled an emergency session for Monday after dozens were killed by tank fire in poor Sunni Muslim districts this week.
Syria produces around 380,000 barrels per day (bpd) of oil; it exports just under a third of total output and most ends up in Europe.



