ConocoPhillips Set to Become First U.S. Major to Sign Post-War Syria Gas Deal

ConocoPhillips is set to sign a deal with Syria’s state gas company this week for the development of local fields, the Financial Times reported, citing unnamed sources as saying the deal could be signed as early as this week. Per the report, Conoco will partner with a company named Novaterra Energy that describes itself as an entity set up “to restore and transform Syria's domestic gas production to meet its growing power needs.” The two will develop both existing fields and explore for new prod