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Iran, Syria consider forming joint oil and gas company, state media says

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Iran and Syria are reportedly weighing the possibility of forming a joint cooperation venture in the fields of oil and gas, according to Tehran. 

The Islamic Republic News Agency, a state-funded media company, reported Thursday that high-level officials in either country have discussed the prospects of “mutual cooperation in the field of oil and gas.” 

A general view of the Port of Kharg Island Oil Terminal, 25 km from the Iranian coast in the Persian Gulf and 483 km northwest of the Strait of Hormuz, in Iran.

A general view of the Port of Kharg Island Oil Terminal, 25 km from the Iranian coast in the Persian Gulf and 483 km northwest of the Strait of Hormuz, in Iran.
(Fatemeh Bahrami/Anadolu Agency/Getty Images)

IRNA reports that Syria’s oil and gas industry is one of Iran’s “most significant markets for investment.” The synergy between the two Middle Eastern countries, IRNA said, could be an “important step” toward economic cooperation. 

Syria only has an estimated 2.5 billion barrels of oil – ranking No. 31 in the world, and accounting for around 0.2% of the world’s total oil reserves.

NAVY STOPS IRAN FROM TAKING US MILITARY DRONE IN ARABIAN GULF

The talks between Iran and Syria come after four Iranian-backed militia members were killed in U.S. strikes in Syria last week in response to recent attacks by the group.

In a statement, U.S. Central Command said U.S. forces also destroyed seven enemy rocket launchers on Aug. 24, just hours after militia fighters fired rockets at two U.S. military installations in northeast Syria. Central Command provided additional details about the strikes, saying they were done with Apache helicopters, AC-130 gunships and M777 Howitzers.

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Those attacks came after militias backed by Iran’s paramilitary Revolutionary Guard targeted U.S. troops on Aug. 15 at the al-Tanf Garrison in the south. There were no casualties or damage in that attack. But, in response, the U.S. struck bunkers and facilities used by the militias.

The Associated Press contributed to this report. 



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