Syrian Oil Minister Ibrahim Haddad recently stated that Syria’s new strategy for increasing its petroleum revenues is based on increased producing of oil while reducing production costs, reported Al-Hayat. The minister added that the new strategy, which was initiated by President Bashar Al-Assad, aims to put an end to bureaucracy and administrative complications in the local petroleum sector. Many operating foreign companies in Syria have complained about administrative barriers hampering trade. — (menareport.com)
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