Reuters’ ship tracking data showed the Negra Hipolita, managed by state oil firm PDVSA, left Venezuela at the start of May and arrived at the Syrian port of Banias on Monday.

Allaw revealed the country’s oil industry has lost around $4 billon because of EU and US sanctions on imports since September. European countries used to buy some 90% of the country’s oil exports, according to Arabiangazette.

The Sanctions on President Bashar Al Assad’s government are in response to the bloody crackdown on an uprising which,  has claimed more than 9,000 lives, UN says.

The minister said domestic production of diesel covered around 50% of the country’s needs and and that negotiations are underway to import gas from Iran and Algeria in order to compensate for gas shortage.

A joint Russia-Syrian committee is also looking at the possibility of concluding a long-term contract with Russia to supply fuel and cooking gas, Allaw told State TV SANA.

He added the government has imported oil by USD 3,5 billion since the beginning of the crisis, including more than 2 million tons of diesel and 450.000 tons of gas, pointing out that no oil or gas tankers have arrived in Syria since last April.

Allaw said that “there is no shortage in funding but the problem remains in preventing tankers from arriving to Syria by those who imposed sanctions on the Syrian people, adding that oil derivatives needed to operate electricity generation plants are available in large amounts.”

Dynacom Tankers Management said it had lost contact with the crew of the following the attack off Oman at 11:15 GMT on Thursday, according to AP.

Dynacom did not give further details but a Kenya-based piracy expert, Andrew Mwangura, said Smyrni was headed for Somalia while it is reported to have a crew of about 15 on board, composed of Indians and Filipinos, Al Jazeera reported.

The hijack success rate for Somali pirates has declined  in recent months, which 
has been attributed to plans by several countries to allow ships using their flags to sail with armed guards. It has not been reported, however, whether the Smyrni had such guards on board. On board the vessel.

Although 
the recent changes in Greek law were established to permit armed guards on Greek-flagged vessels, even though Liberia also permits armed guards on its flag vessels; recent reports from Greece claim that the vessel did not have a security team embarked, OceanUSlive.Org reported. 

Ealier on Wednesday, pirates fired rocket-propelled grenades at a crude tanker 56km east of Socotra, an island located between Yemen and Somalia’s lawless coastline, OceanUSlive.org said.

Seaborne gangs have raked in an estimated $150m in ransoms in what has become a highly organised, international criminal enterprise, experts say.

EU naval ships are currently on patrol off the Horn of Africa in an effort to protect vessels.