Russian oil company Tatneft has halted work in Syria, citing instability in the country, after foreign oil companies including Royal Dutch Shell also stopped operating there due to Europen Union sanctions, Reuters reports on Friday.
"We intend to continue operations if the situation stabilises," a Tatneft spokesman said by telephone, citing public remarks by company head Shafagat Takhautdinov.
The Russian regional oil company, whose production base is in Tatarstan, has a production-sharing agreement with Syria's state-owned General Petroleum Corporation, which is on an EU blacklist under a sanctions regime aimed at isolating President Bashar al-Assad.
Russian oil company Tatneft halts work in Syria
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