Bloomberg News

Syrian Minister Doesn’t See Return of Units of Shell, Total, INA

April 16, 2012

Units of Royal Dutch Shell Plc (RDSA), Total SA (FP) and INA Industrija Nafte d.d., the Croatian refiner controlled by Hungary’s Mol Nyrt. (MOL), won’t be able to return to Syria after complying with a European Union embargo, Syrian Oil Minister Sufian Al-Alao said, according to Vecernji List.

“I don’t believe that the companies which betrayed us, such as INA, Shell and Total, will ever return to Syria,” Alao was quoted as saying in an interview from Damascus with the Zagreb-based newspaper. “If there is no trust, doing business becomes impossible, and we have lost trust in these three companies.”

The EU banned imports of crude oil from Syria in September in an expansion of sanctions against President Bashar al-Assad’s government for its deadly crackdown on protesters.

To contact the reporter on this story: Jasmina Kuzmanovic in Zagreb at jkuzmanovic@bloomberg.net

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net


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