E.U. sanctions force Shell to leave Syria

Author: Javier Blas, Financial Times, Published on: 2 December 2011

Royal Dutch Shell said...it will “cease” activities in Syria after the European Union blacklisted three state-owned Syrian oil companies in an effort to raise the pressure on President Bashar al-Assad’s regime...The Syrian groups are the local partners of various foreign oil companies, forcing them to stop working in the country...Shell said it will cease its activities in compliance with sanctions. “Our main priority is the safety of our employees, of whom we are very proud,” the company told the Financial Times. “We hope the situation improves quickly for all Syrians.” Industry officials say they believe that other European oil companies operating in the country, including Total of France and the London-listed Gulfsands Petroleum, will follow. [also refers to General Petroleum Co., Al Furat Petroleum Co. and Syria Trading Oil Co., CNPC, ONGC]

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Related companies: China National Petroleum Corporation (CNPC) Gulfsands ONGC (Oil & Natural Gas Corporation) Shell Total