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Suncor operates $1.2-billion Ebla project in partnership with local company (TODD KOROL/REUTERS)
Suncor operates $1.2-billion Ebla project in partnership with local company (TODD KOROL/REUTERS)

Canada bars new oil investment in Syria Add to ...

Canada announced on Tuesday it was banning new investment in Syria’s oil sector as part of a fresh sanctions package but it was not immediately clear whether Suncor Energy Inc. ’s Syrian operations would be affected.

Suncor operates the $1.2-billion Ebla project in Syria, supplying natural gas to the domestic market. Its partner is Syria’s General Petroleum Corp.

Canada imposed sanctions against Syria in August over its use of violence against civilians, and Foreign Minister John Baird said Ottawa would take more steps.

The measures include:

- a ban on providing financing for new investment in the oil industry or the acquisition, purchase, supply or importation of petroleum or petroleum products in Syria;

- a ban on the importation, purchase, acquisition, carrying or shipment of petroleum or petroleum products from Syria.

Suncor was not immediately available for comment.

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    $35.59
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  • Updated June 29 4:15 PM EDT. Delayed by at least 15 minutes.

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