The Finch Formerly Known As Gold

9 March 2005

Devon backs off

Oklahoma City's Devon Energy Corp. is terminating its operations in Syria, citing current political pressures. US sanctions against Syria do not block Devon's oil exploration, but the company is unable to import replacement parts for its equipment.

Devon had planned to invest approximately $17 million in the Syrian oil fields, and began operations, with the consent of Congress and the Department of State, in 2002.

Posted at 7:21 AM to City Scene