SYRIA NEWS | ZAMAN ALWSL

Chevron to begin drilling in Syrian waters this summer

Zaman Al Wasl — Wed, 15 Apr 2026 11:42:00 +0300

The Syrian Petroleum Company announced that it has received official confirmation from the American company Chevron to begin oil and gas exploration in Syrian territorial waters in the summer of 2026. This comes after the termination of contracts with Russian companies affiliated with the former regime due to their failure to fulfill their obligations.

Youssef Qablawi, the company's CEO, stated on his official social media accounts that the "understanding" phase with the American giant has concluded and the "implementation" phase has begun.

Qablawi confirmed that joint work with Chevron and its partner, Power International Holding, has identified the target offshore location for commencing technical operations.

This shift follows an official decision to terminate contracts with Russian companies, most notably the contract for "Offshore Block 1" off the coast of Tartus.

The Syrian side cited "breach of contractual obligations," as the Russian company Capital Limited had not conducted any drilling operations since signing its contract.

Reclaiming "Block 1" from Russian Companies: The canceled contract had previously granted the Russian company exclusive rights to an area of 2,250 square kilometers. Block 1 is now legally available to Chevron, which will begin eight months of technical studies before commencing operations.

New Technologies and Sovereign Investment

Chevron will transfer deepwater drilling technologies to Syria for the first time. This move represents a shift in the management of national resources, as the authorities have replaced the "dysfunctional contracts" of the former regime with performance-based partnerships.

The Syrian decision ended the era of concessions granted to Russia without any corresponding production, allowing the country to regain control of its energy sector, free from previous political considerations. Legal teams have now begun drafting the final contracts to ensure drilling begins on schedule.

The question remains whether the termination of the Block 1 contract will extend to Block 2, which was awarded to another Russian company.

Oil climbs above $100 after Iran–US negotiations fail

Mon, 13 Apr 2026 14:25:36 +0300

London, April 13 (SANA) Oil prices exceeded $100 a barrel on Monday as tensions escalated in the Strait of Hormuz following the failure of negotiations between Iran and the United States, according to Reuters.

Brent crude futures rose by $7.11, or 7.47 percent, to $102.31 per barrel, reversing a 0.75 percent decline recorded at Friday’s settlement.

U.S. West Texas Intermediate (WTI) crude reached $104.43 per barrel, up $7.86, or 8.14 percent, after falling 1.33 percent in the previous session.

The price increase comes as markets reacted to developments in the strategic waterway, where concerns over maritime security have intensified.

On Sunday, the U.S. Central Command (CENTCOM) announced it would impose restrictions on maritime traffic entering or leaving Iranian ports starting Monday morning, following the failure of negotiations aimed at ending the conflict.

Tax incentives, settlement of outstanding debts: Decrees 69, 70

Sun, 12 Apr 2026 20:12:00 +0300

Syrian Finance Minister Mohammed Yasser Barnieh confirmed that Decrees No. 69 and 70 of 2026, concerning incentives and exemptions for affected businesses and the settlement of non-performing loans in public banks, aim to alleviate the burden on those affected and help them resume their economic activity.

Barnieh explained that these measures include tax exemptions to help rehabilitate businesses and create job opportunities, in addition to waiving interest on non-performing loans and returning the principal, thus contributing to easing the burden on citizens.

He indicated that tens of thousands of Syrians will benefit from these decrees, with the expectation that thousands of cases and legal proceedings will be resolved and freezes lifted on frozen properties, returning them to the economic cycle.

The minister clarified that the goal of these steps is to reduce poverty and unemployment by reintegrating those in financial distress into the economy and achieving a degree of social justice by distinguishing between genuinely struggling businesses and those deliberately defaulting.

Barnieh affirmed that these decrees will not include associates of the former regime or individuals implicated in corruption cases under investigation, emphasizing that oversight bodies reserve the right to exclude any beneficiary proven to have exploited these facilities.

He also clarified that these measures are not retroactive and are unrelated to the financial settlements related to the Illicit Gains Authority, noting that work is underway to issue the implementing regulations in preparation for putting the two decrees into effect.

This comes pursuant to Presidential Decree No. 69 of 2026 concerning the assessment of damages and the granting of exemptions, and Decree No. 70 of 2026 concerning the settlement and rescheduling of debts according to specific conditions.

$12 million for fledgling company: Oil contract details

Zaman Al Wasl — Fri, 10 Apr 2026 12:11:00 +0300

Official documents have revealed that the Syrian Petroleum Company recently signed a negotiated contract worth $12.3 million with Petroleum Services Enhancement Company (PPS), raising questions about the criteria used to award the contract to a company that was only established a few months ago.

A Company with No History... and a Project Worth Millions

PPS was officially registered on November 11, 2024, yet it secured a massive contract—without competition or bidding from other companies—to carry out a complex engineering project in the Al-Taym and Al-Azba oil fields.

The project aims to remove acidic aquifer water that is polluting the environment, soil, and groundwater. This is a task that typically requires accumulated expertise and a proven track record, not something a newly established company with barely dry paperwork could handle.

"Exceptional" Privileges

Not only was the contract awarded, but the company also secured very "comfortable" payment terms:

- Advance Payment: The Syrian Petroleum Company will pay 50% of the contract value (approximately $6.1 million) in advance!

- Study Authority: The company itself was tasked with preparing the engineering study that will determine the implementation plan and specifications, effectively making the contractor the arbiter in determining the quality and costs of the work.

Articles (5) and (11) of the contract, which Zaman al-Wasl reviewed, place the contractor in a position of power. It is responsible for "implementing" the terms and executing the required study, with the stipulation that any materials outside its approved study will be at its own expense.

This overlap between "designer" and "executor" opens the door for the project to be engineered in accordance with the contractor's financial interests, especially given the absence of any mention of an independent consulting firm for auditing.

This contract comes at a time when stricter oversight of investment budgets is supposed to be in place.

The contract was signed by Youssef Mohammed Qablawi, CEO of the Syrian Petroleum Company, and Iyad Mohammed Khair Al-Aghbar, General Manager of PPS.

There is no explicit mention of the contractor providing bank guarantees (such as a performance bond or advance payment guarantee) before work begins, which is noteworthy given the size of the contract and the advance payment.

($1 dollar =12,900 Syrian pounds)

State Petroleum Company: Between Recycling, Marginalized Competencies

Zaman Al Wasl — Sat, 04 Apr 2026 11:39:00 +0300

In a development revealing the ongoing problems in managing the vital oil sector, multiple messages received by Zaman al-Wasl from within the Syrian Petroleum Company (SPC) have revealed widespread frustration among employees. This frustration stems from the return of individuals previously implicated in corruption networks to influential positions under the guise of "experience," amidst the systematic marginalization of honest and competent individuals.

Recycling Faces... and Experience as a Cover

According to the messages, signed by employees whose names are being withheld by Zaman al-Wasl, the company, established after the liberation of Syria, is now reproducing the same corrupt practices that plagued the sector for decades. This is being done by bringing in individuals who previously acted as brokers for companies accused of plundering oil wealth, such as the Qaterji and Maham companies, the Iranian Kamka companies, Russian companies, and sanctioned companies like al-Radawi.

In their message to the company's chairman, Youssef Qablawi, published by Zaman al-Wasl, the employees state: "We have no problem with specific individuals, but we do have a problem with a system that recycles known corrupt individuals under the guise of experience."

They add: "The work distribution mechanism reveals the extent of the disaster. Managers rely on mostly corrupt department heads who monopolize work, divide it according to their whims, and funnel it into committees to prevent qualified staff from receiving it."

Rewards without standards and the marginalization of the honest

The messages indicate that the reward system, which is mostly comprised of committee bonuses, has become a tool for corruption, a means of buying loyalty, and a way to perpetuate the old nepotism in a new guise. Unjustified rewards are given to specific individuals without clear criteria, while the truly qualified staff who work quietly are marginalized.

The messages describe what is happening as "a reproduction of the same corrupt individuals," adding: "After we removed the outer layers of the old system, the real gems—the honest and competent individuals—remain buried, while the corrupt are being recycled and rebranded."

A Legislative Vacuum Protecting Corruption

The correspondence reveals a deeper problem: the absence of any legal protection for whistleblowers. This is why the letter wasn't delivered directly to Qablawi. Employees say, "If I want to report corruption, what protects me? The bitter truth: nothing. There's no law protecting whistleblowers, no clear reporting mechanism, and no independent central committee."

Demands for a Central Committee and Whistleblower Protection

The employees called on Qablawi to personally intervene to rectify the situation, demanding:

1. The formation of a transparent and independent central committee to review the professional background of each employee, comprised of independent experts, and the issuance of periodic reports.

2. The establishment of a legal mechanism to protect whistleblowers, with secure communication channels and deterrent penalties for those who abuse their influence.

3. The adoption of objective criteria for evaluation, appointment, and salaries, to be made publicly available.

4. Monitoring the distribution of work, preventing monopolies, and holding accountable anyone found to be monopolizing tasks.

5. The launch of a genuine training program to transfer expertise to young and honest staff. 6. Hold regular meetings with staff members, separate from department heads.

The employees concluded their letter: "The opportunity to save the institution still exists, but it requires your personal intervention to stop the recycling of corrupt individuals and give a genuine chance to the honest staff who have remained outside the circle of corruption for decades."

Total Energies begins technical talks to return to Syria

Zaman Al Wasl — Fri, 03 Apr 2026 00:00:50 +0300

Informed sources revealed a significant development in the return of the French company Total Energies to the Syrian oil and gas sector. This development was marked by a virtual meeting between the global company's management and the management of Deir ez-Zor Petroleum Company (DEZPC). During the meeting, the two sides discussed ways to reactivate old partnership contracts and resume operations in Syrian oil fields.

Details of the Meeting

According to the information, the meeting took place via videoconference. Total Energies' management and technical team participated, while the Syrian side was represented by the management of Deir ez-Zor Petroleum Company, the joint venture that managed Total's contracts in Syria before 2012.

The discussions focused on three main points:

- The mechanism for returning to Syria after the lifting of sanctions.

- An assessment of the current condition of the fields and wells.

- The technical needs and equipment required to resume operations.

Preparation in Houston

This meeting follows a series of preceding contacts and negotiations, the groundwork for which was laid in Houston, Texas, where Mr. Youssef Qablawi, Director General of the Syrian Petroleum Company, held preparatory meetings with Total officials. Total's Fields in Syria and Their Production Before 2011

Total, through its subsidiary Deir ez-Zor Oil Company, operated three main fields in Deir ez-Zor Governorate:

- Al-Jafra Field (Oil)

- Al-Qahar Field (Oil)

- Al-Tabiyah Field (Gas and Condensate)

According to official data, Deir ez-Zor Oil Company's production reached approximately 27,000 barrels per day in 2011. However, other sources indicate that production from the Al-Jafra and Al-Qahar fields alone ranged between 40,000 and 50,000 barrels per day before the outbreak of the revolution in March 2011.

Total's total production in Syria (including gas and condensate from the Al-Tabiyah field) averaged 39,000 barrels of oil equivalent per day in 2011.

Remaining Contract Term at the Time of Force Majeure

In December 2011, Total announced the suspension of its operations in Syria in compliance with European sanctions, following a sharp reduction in production that began in November of the same year.

Total had renewed its 50% stake in the Deir ez-Zor concession in 2008, extending its rights to pump oil until 2021. When the company announced its cessation of operations in December 2011, approximately 10 years remained of the contract (from 2011 to 2021).

Current Field Status

An inspection tour conducted by CEO Youssef Qablawi at the Jafra field in early 2026 revealed a significant decline in production:

- The field consists of 70 wells, of which only 30 are currently producing.

Current production does not exceed 3,000 barrels per day, compared to 40,000-50,000 barrels per day before 2011.

Syria's total oil production has declined to 100,000 barrels per day currently, compared to 360,000 barrels per day in 2010.

Prospects for a Return

With the lifting of sanctions on Syria, Total Energies has expressed its readiness to consider resuming operations under the previous partnership agreement.

Sources confirm that Deir ez-Zor Oil Company remains responsible for managing the contract technically, financially, and contractually, which facilitates a return once the necessary technical and security arrangements are finalized.

Petro-Canada's comeback: Boosting production efficiency and developing the struggling Ebla fields

Thu, 02 Apr 2026 23:57:00 +0300

Petro-Canada is preparing to resume operations in Syria after a 14-year absence, aiming to increase production capacity at the central gas fields and surpass pre-2011 levels.

These moves follow Canada's decision on February 18, 2016, to lift sanctions on the Syrian Petroleum Company, paving the way for the full reactivation of the Ebla project.

Development of the Sharifa and Shaer Fields

The return plan focuses on developing the Sharifa field, which had not yet reached full production before the shutdown, and rehabilitating the damaged facilities at the Shaer field. The operator, Ebla Petroleum (EBCO), aims to reach the plant's maximum design capacity of 88 million cubic feet per day, up from the 80 million cubic feet per day recorded in December 2011.

Note: The Ebla gas project covers an area of 1,251 square kilometers between Homs and Palmyra and has proven reserves of 500 billion cubic feet.

Billions of Dollars in Investment

The Canadian company's investments in the project reached approximately 1.2 billion Canadian dollars. The infrastructure included a central gas processing plant built by the British company Petrofac, and an 80-kilometer pipeline network. The facility currently produces, in addition to natural gas, about 150 tons per day of cooking gas (LPG) and 640 cubic meters of oil condensate.

End of Force Majeure

PetroCanada declared force majeure and withdrew in December 2011 due to European Union sanctions against its local partner (the former regime). With the current political changes, the company is seeking to implement enhanced oil recovery technologies to increase condensate production rates, which may encourage other Western companies to return to the Syrian energy sector.

Zaman al-Wasl

Syrian Petroleum: Dollar-denominated bonuses raise questions about administrative fairness standards

Thu, 02 Apr 2026 15:57:00 +0300

Questions are mounting within the Syrian Petroleum Company regarding the mechanisms for disbursing incentives, after it was discovered that certain employees received bonuses exceeding several times the average employee's monthly salary.

Riyad al-Jubasi granted bonuses totaling $1,200, a move that sparked controversy concerning the administrative and legal authority governing the disbursement of such sums under the current economic conditions.

Employee (M.A.) and five other workers received bonuses of $300 each, without these bonuses being based on published performance evaluation reports or documented professional achievements that would justify their exceeding the average salary of $100.

Lack of Eligibility Criteria

The current administrative reality indicates a lack of transparency in the implementation of the incentive system. Competent employees who exert significant effort in the field are marginalized in favor of certain individuals, placing the company's management under an obligation to clarify the basis for distributing these funds.

"The bonus system has transformed from a tool for motivating production into a means of widening the gap between employees, threatening the stability of the work environment."

These facts necessitate the intervention of the Director General, Engineer Youssef Qablawi, to answer the following questions:

- What legal controls did Riad Al-Jubasi rely on in granting bonuses worth thousands of dollars?

- Are these financial decisions subject to oversight by the Central Financial Control Authority?

- When will a fair incentive system be implemented that guarantees employee rights based on performance, not administrative proximity?

Zaman Al-Wasl

Syria, Germany sign air transport deal to restore flights, expand cooperation

Mon, 30 Mar 2026 21:01:00 +0300

Syria and Germany on Monday signed an agreement on air transport cooperation in Berlin, aimed at restoring air connectivity and expanding bilateral ties.

The agreement was signed in the presence of President Ahmad al-Sharaa, with Head of the General Authority of Civil Aviation and Air Transport Omar al-Hosari representing Syria and German Transport Ministry Secretary-General Claudia Elif Stotz representing Germany.

Officials said the deal is intended to resume air traffic between the two countries and increase opportunities for airlines, passengers and cargo operators.

It also includes provisions to develop partnerships such as code-sharing arrangements and to align aviation regulations with international norms.

Al-Sharaa arrived in Berlin on Sunday on an official visit with a ministerial delegation and has held talks with senior German officials to discuss broader cooperation.

SANA

Iraqi-Syrian Oil Pipeline: Feasibility Study with Capacity of 1.5 Million Barrels Per Day

Zaman Al Wasl — Sun, 29 Mar 2026 14:20:00 +0300

Amidst the geopolitical tensions in the region and the closure of the Strait of Hormuz, the Iraqi and Syrian governments are working to revive a strategic pipeline project to transport crude oil from the Kirkuk oil fields to the Syrian port of Banias on the Mediterranean Sea.

On Thursday, the Iraqi Ministry of Oil announced a radical shift in the project's nature, moving from a plan to rehabilitate the damaged old pipeline to a feasibility study for constructing a completely new pipeline with a capacity of up to 1.5 million barrels per day. This aims to ensure export flexibility and reduce reliance on vulnerable waterways.

Project Details: From Rehabilitation to New Construction

Iraqi Deputy Oil Minister Basim Mohammed Khudair confirmed in a press statement that the old Kirkuk-Banias pipeline has become inoperable due to decades of neglect and sabotage. He indicated that the ministry is currently conducting specialized studies for the construction of a new pipeline, known as the "Basra-Haditha Pipeline" project, which will include strategic branches extending towards Jordan and Syria, reaching Banias.

- Potential Route and Length:

The old pipeline is approximately 800-850 kilometers long. The proposed new route (Basra-Haditha) will be significantly longer, aiming to connect southern Iraq with the northwest. This will allow for the diversion of crude oil from southern fields to the north should conventional sources fail, granting Iraq unprecedented flexibility in its export operations.

Capacity and Costs

- Design Capacity:

According to preliminary studies, the new project aims to achieve a massive transportation capacity ranging from 700,000 to 1.5 million barrels per day. This contrasts sharply with the limited capacity of the old pipeline, which did not exceed 300,000 barrels per day before it ceased operations.

- Estimated Costs:

The project is estimated to require substantial investments:

• Cost of Rehabilitating the Old Pipeline: Initial estimates (before the decision to construct the new pipeline) indicated that rehabilitating the old pipeline with a capacity of 700,000 barrels per day would have cost approximately $8 billion.

• New Construction Cost: Some sources estimate the cost of completely rebuilding the pipeline network and new pumping stations at over $4.5 billion, taking into account that the pipeline will be dual-purpose (carrying two different types of oil) and will include the construction of new pumping stations.

Khodair confirmed that the project is still in the design and planning stages and will be put out to tender for specialized companies to ensure efficient implementation. The pipes are expected to be manufactured locally according to international standards.

Economic Benefits and Revenues for Syria

This project represents a vital opportunity for Syria, which is suffering from a severe energy crisis. Before 2011, Syria produced approximately 387,000 barrels per day, but production has now fallen to only about 8,000 barrels per day, with domestic consumption reaching 120,000 barrels per day.

- Financial Revenues:

Syria will receive significant financial revenues from the transit of oil through its territory. Studies indicate that annual revenues for oil transit systems in the region typically range from $1 to $2 per barrel. Accordingly, the new pipeline is expected to generate approximately $200 million in transit fees annually for Syria, assuming a capacity of 1.5 million barrels per day.

- Securing Domestic Market Needs:

Beyond revenue, the pipeline will provide a secure and cost-effective source of crude oil for the Banias and Homs refineries, reducing the heavy reliance on Russian oil imports via shadow fleets. This reliance exposes Damascus to the risks of secondary sanctions and high shipping costs.

Global Transit Fees and Project Significance

In such cross-border projects, transit fees depend on several factors, including the volume of transported volumes, partnership agreements between the countries, and pipeline maintenance costs. The global average for long-distance pipeline transit fees typically ranges from $0.50 to $5 per barrel. Given the strategic relationship between the two countries and their mutual need to secure oil flows, the expected revenue for this project falls within the mid-to-low range. Expected Completion Timeline

According to official statements and engineering sources, the project is expected to take approximately 24 to 36 months to complete, assuming immediate commencement of work and simultaneous reconstruction efforts on both the eastern and western sides. Youssef Qablawi, Director General of the Syrian Petroleum Company, indicated that the project is a top priority and that several development finance institutions, including some in Saudi Arabia, have expressed interest in funding it.

Geopolitical Context and Strategic Motivation

The accelerated implementation of the project comes amidst the ongoing conflict between the United States and Israel against Iran, which began on February 28, 2016, and effectively led to the closure of the Strait of Hormuz. This closure has severely hampered Iraqi oil exports, which rely on this waterway for 90% of their revenue. Through this pipeline, Iraq aims to open an alternative export route to Europe via the Mediterranean Sea and bolster its export capacity, which has declined by 80% from its southern oil fields.

Furthermore, the project's success will contribute to reducing Russian influence in Syria, where Russian oil currently represents a key leverage point, and will provide a more secure and stable alternative supply route.

Who runs 'Hashem Al-Aqqad' empire in his absence?

Zaman Al Wasl — Sun, 15 Mar 2026 15:21:50 +0300

Legal and financial circles in Damascus are awaiting the anticipated decision from the First Sharia Court regarding the appointment of a "representative for an absentee" to manage the assets and businesses of businessman Hashem Anwar al-Aqqad.

The significance of this decision stems from the scale of the investments involved and the legal complexities arising from existing and ongoing litigation among family members.

Legal Considerations: Appointment Criteria

According to sources familiar with the case, Anwar Hashem al-Aqqad (the eldest and only son of the abducted man) is the leading candidate for the position. His suitability is based on his close relationship with his father and his specialized academic qualifications; he is a graduate of Harvard University and Dauphin University, specializing in economics and financial engineering, qualifications directly relevant to the tasks required for managing and overseeing large commercial companies.

Meanwhile, the court is considering appointing the abducted man's mother, who is over eighty-six years old, or one of his brothers, a move that faces legal objections based on the principle of "conflict of interest."

The Problem of "Litigation" and its Impact on Administrative Integrity

This case raises fundamental legal questions about the appropriateness of appointing a "legal litigant" as the representative of the absent party. The documents indicate the existence of:

- A series of pending lawsuits: More than 20 financial and legal cases exist between the abductee and his siblings, including requests for judicial guardianship, audits, and company dissolution, all filed by the abductee.

- Concerns about the merging of legal positions: Legal experts believe that enabling the litigant to manage the assets of the absent party could lead to a situation where the individual becomes both "plaintiff and defendant" simultaneously, especially if there are pending cases requiring the defense of the absent party's rights against his siblings.

Loopholes in Administrative Procedures

The memoranda submitted to oversight bodies indicate that one of the disputing parties authenticated a "general power of attorney" under circumstances that warrant scrutiny. This was followed by procedures to dismiss the abductee's previous legal representatives and appoint new lawyers to represent the litigant, thus placing the integrity of subsequent legal actions under judicial review.

Legal and Oversight Responsibility

The spirit of Syrian law, specifically the articles concerning "absent and missing persons," stipulates that the primary purpose of appointing a representative is "to safeguard and preserve assets." Accordingly, observers are bringing this matter to the attention of the Minister of Justice to ensure:

- Complete impartiality in selecting the representative most committed to the interests of the absent person.

- Avoiding the appointment of any party with a direct or indirect conflict of interest with the absent person to guarantee that rights are not lost.

- Verifying the validity of powers of attorney activated after the abduction.

Protecting private property and ensuring the continuity of economic institutions in the absence of their owners requires judicial decisions characterized by accuracy and transparency, free from any pressure or interference that could affect the course of justice.

Chinese oil companies in Syria: Staying despite the danger, Economics or politics?

Thu, 12 Mar 2026 11:53:00 +0300

In stark contrast to the behavior of most international companies, the experience of Chinese companies operating in Syria's oil sector stands out as an exceptional case.

While global and regional companies declared force majeure one after another as oil fields fell out of the Assad regime's control in 2011, two giant Chinese companies took a different path, continuing their operations in areas deemed dangerous. Their decision reveals dimensions that extend beyond direct economic viability to broader geopolitical considerations.

Amid the Syrian revolution since 2011, the energy sector was among the hardest hit, with most oil fields falling out of Assad's control, investment contracts being suspended, and major companies like Shell and Total withdrawing. But the irony lay in the stance of two Chinese companies: SIPC, whose contract expired in 2024, and CNPC, whose contract was set to expire in 2027. Reports indicate that the latter recently requested to withdraw from Syria, a significant development that raises questions about the future of Chinese investment there.

A contrasting stance: Why didn't China declare force majeure?

While foreign and Arab companies rushed to declare force majeure—a contractual clause that releases a party from its obligations due to exceptional circumstances beyond its control—the two Chinese companies adhered to their development contracts.

Even when the oil fields in which they operated were outside Assad's control, they maintained their representative offices and continued operations, or at least kept their representation in place.

This decision reflects a long-term Chinese approach that does not treat Syria as a mere transit market, but rather as a strategic link in its chain of major projects, such as the Belt and Road Initiative, where major economic interests are decoupled from temporary security and political fluctuations.

Where are the Chinese oil fields concentrated in Syria?

To understand the significance of the Chinese decision, one must first understand where its investments are concentrated.

According to available reports, Chinese activity has not been limited to a single region, but has extended to fields in the east and west of the country, though the outcomes have varied.

- Fields in Homs Governorate (Central): The Qumqum and Abu Rabah oil fields in the Homs countryside are among the most prominent areas that have witnessed intensive Chinese activity. At the beginning of 2023, experts from the Chinese company Heilong Oil Services and Engineering arrived at these two fields and began exploration and well drilling under new investment contracts. This area remained under the control of the Syrian state, allowing work to continue relatively normally.

- Fields in the Northeast (Hasakah): This is the most complex part of the story. Chinese companies, particularly the China National Petroleum Corporation (CNPC), have long-standing investments in key oil fields in Hasakah Governorate, such as the Awda and Tishrin fields.

These fields, which once produced thousands of barrels per day, were outside Assad's control for many years and were previously under the control of the Syrian Democratic Forces (SDF). They suffered extensive looting and sabotage, with losses estimated at hundreds of millions of dollars.

Production and Financial Value: How Much Is China Losing?

It is estimated that the Syrian oil sector produced around 400,000 barrels per day before 2011, but this has declined to only 100,000-120,000 barrels per day in recent years.

While precise figures for the Chinese companies' share of this production are unavailable, their presence in key fields means that their financial losses due to looting and shutdowns have been substantial. Unconfirmed reports indicate that CNPC's losses in the Awda and Tishrin fields alone may approach $170 million as a result of looting of equipment and infrastructure.

However, these losses apparently weren't enough to push companies to withdraw immediately. Instead, they preferred to stay and protect their assets and long-term investments. Chinese companies view Syria as a promising market not only for oil, but also for future reconstruction, infrastructure, and telecommunications.

The Decision to Withdraw Now: Political or Economic?

With the new Syrian government controlling most of the northeastern oil fields by early 2026, and the Syrian Energy Minister announcing ambitious plans to increase production and rehabilitate the fields in cooperation with international companies, a pressing question arises: Why is CMPC requesting to withdraw now, when the security situation is beginning to stabilize in the government's favor?

Here, the economic and political spheres intersect:

1. US Pressure: Since the fall of Assad, Washington has intensified its pressure on Syria to abandon Chinese technology and equipment, especially in the telecommunications and energy sectors, urging it to cooperate with American or allied companies. This pressure could make the operating environment for Chinese companies more complicated in the coming period.

2. New International Competition: Following the relative stabilization of the situation, international companies from Qatar, Saudi Arabia, the UAE, the US, and Europe are racing to return to Syria or enter it for the first time. This momentum could mean that offers to China are no longer exclusive as they once were, and the new Damascus might prefer to diversify its partnerships.

3. Contract Restructuring: Chinese companies may be reassessing their old contracts signed with the previous regime and seeking to negotiate better terms with the new administration. Withdrawal could be a bargaining chip in these negotiations, or a de facto move if they find the new environment unsuitable for their investments.

The decision by Chinese companies not to declare force majeure during the war years was a purely political one, reflecting Beijing's desire to play a long-term role in Syria and protect its strategic investments. The potential withdrawal request now carries both economic and political dimensions, as companies assess the viability of their investments in light of a new competitive landscape and the contours of a different international order during the reconstruction phase.

The coming days will reveal whether China will be able to adapt to the new reality in Syria, or whether Syrian oil fields will witness a shift in strategic partners from the East to the West and the Gulf.

Zaman al-Wasl

Flynas Syria airline set to launch in fourth quarter 2026

Mon, 09 Feb 2026 12:07:20 +0300

Syria’s civil aviation authority has signed an agreement with Saudi low-cost carrier flynas to launch a new joint-venture airline, flynas Syria, in a move aimed at revitalizing the country’s air transport sector after more than a decade of disruption and international isolation.

Under the agreement signed Saturday in Damascus, the Syrian General Authority of Civil Aviation and Air Transport will hold a 51% stake, while flynas will own the remaining 49%, flynas said in a statement on its website. Commercial operations are expected to begin in the fourth quarter of 2026, pending regulatory approvals, it added.

The airline will operate flights to destinations across the Middle East, Africa, and Europe, with licensing and operational arrangements currently being finalized in coordination with relevant authorities. flynas said, “This expansion aims to bolster air traffic to and from Syria, enhance regional and international connectivity, and meet the growing demand for air travel.”

Saudi Investment Minister Khalid Al-Falih, speaking at the signing ceremony, described aviation as a “key enabler of economic development,” calling the partnership a step toward “constructive investment cooperation” between the two countries.

Omar al-Hosari, head of Syria’s civil aviation authority, called the agreement a “strategic step within a comprehensive national vision aimed at rebuilding and developing Syria’s civil aviation sector.” He added that the partnership reflects Syria’s commitment to “smart cooperation models with trusted regional partners,” which will enhance regional air connectivity.

flynas chairman Ayed Al Jeaid hailed the deal as “a historic moment in the company’s journey,” while CEO Bander Almohanna highlighted Syria’s geographic location and tourism potential, describing it as “a vital hub for air travel.”

The airline currently operates 23 weekly flights from Riyadh, Jeddah, and Dammam to Damascus, including two daily flights from Riyadh, one daily flight from Jeddah, and two weekly flights from Dammam. In June 2025, the airline became the first Saudi carrier to resume scheduled flights to the Syrian capital since services were suspended during the war.

Syrian–Lebanese business forum opens in Damascus to boost tech and investment ties

Sun, 08 Feb 2026 12:16:00 +0300

A Syrian–Lebanese business forum aimed at strengthening technical and investment cooperation between the two countries opened on Sunday in Damascus, bringing together business leaders, experts and technology firms.

The forum, held at the Seven Gates Hotel, was organized on the initiative of the Arab Internet and Communications Union (ARISPA), in cooperation with the Syrian Scientific Society for Informatics and Lebanon’s Professional Computer Association.

Participants include representatives of companies working in technology, software and telecommunications, alongside decision-makers and specialists, with discussions focused on economic cooperation, digital development and the exchange of expertise.

Speaking at the opening, Minister of Communications and Information Technology Abdulsalam Haykal said the ministry is working to build an integrated digital future by upgrading digital infrastructure and expanding digital services to meet public needs.

Haykal said priorities include strengthening cybersecurity, developing digital leadership, creating a more attractive investment environment and building skilled human capital, with an emphasis on regional and international integration through strategic projects, including the Silk Link initiative.

He also called on regional and international companies, particularly Lebanese firms, to invest in Syria’s telecommunications sector, saying the ministry follows an open-door policy based on transparency and partnership with local expertise.

The minister said effective cooperation would be measured by practical implementation, adding that the ministry is committed to providing a clear investment framework and facilitating procedures for investors.

SANA

Saudi Arabia set to announce major new Syria investments, Syrian official says

Tue, 03 Feb 2026 17:31:00 +0300

Saudi Arabia will invest in a new private Syrian airline as part of a multi-billion-dollar investment package expected to be announced on Saturday, the head of the Syrian Investment Authority told Reuters, reflecting Riyadh’s deepening ties to Damascus.

The latest planned investments will mark the largest such announcement since the United States lifted a tough set of sanctions on Syria in December.

The sanctions had been a significant obstacle to Syria’s economic revival after a 14-year civil war that inflicted deep damage on much of the country and displaced millions of people.

Saudi investments would include projects in “telecommunications and real estate, especially in the old towns,” said the investment authority head, Talal al-Hilali, speaking to Reuters on Tuesday.

Al-Hilali said that the majority of the planned investments would take the form of ready-to-implement contracts, rather than non-binding memoranda of understanding. He declined to give a value for the investments.

Riyadh has emerged as a close ally of Damascus since the toppling of Bashar al-Assad some 14 months ago. Last year, Riyadh announced $6.4 billion of investments, split into 47 deals with more than 100 Saudi companies working in real estate, infrastructure and telecoms.

Two Syrian sources familiar with the matter said aviation investments would include contracts to develop Aleppo International Airport. The sources said the new private airline is expected to launch with more than a dozen aircraft.

Al-Arabiya, Reuters

Syrian Petroleum Company: Final organizational structure awaits launch

Fri, 30 Jan 2026 00:41:00 +0300

The Syrian Petroleum Company (SPC) is preparing to announce a historic institutional transformation expected to reshape the country's energy sector. After months of work, the company's final organizational structure has been completed and is now in the hands of top management, with talk of an official launch ceremony.

This significant step comes amidst a broader restructuring that includes relocating headquarters, redeploying staff, attracting international partnerships, and laying the groundwork for a new phase aimed at regaining effective control over the oil wealth and maximizing revenues after years of sharp declines in production and exports.

Concurrently with the completion of the organizational structure, concrete arrangements are underway, indicating its imminent implementation:

- Relocation of Headquarters: Employees of the Hayat and Ebla companies have been informed that the offices of the two joint ventures, Hayat (partnered by Croatian company Enel) and Ebla (partnered by PetroCanada), will be moved from the Euphrates Company building in Souq al-Sham to the former Ministry of Oil and Mineral Resources building in the Dummar Project.

This building will now serve as the headquarters of the Syrian Petroleum Company (SPC).

- Role Reshuffle: In contrast, the Minister of Energy, Engineer Mohammed Al-Bashir, and his accompanying ministerial team are preparing to move to the new, fully equipped headquarters of the Al-Furat Company building.

This physical separation between the Ministry's headquarters (the regulatory body) and the company's headquarters (the implementing body) has profound practical implications for separating roles and empowering the SPC.

- Continuity of Partnerships: It is noteworthy that the offices of the Al-Furat Company, which shares the building with its foreign partner, Shell, will remain in the same building after the Ministry's relocation.

This is pending the securing of a suitable headquarters to accommodate the Al-Furat Company's approximately 600 employees.

What Does the New Structure Include?

While full details are not being released before the official announcement, information indicates significant improvements aimed at enhancing efficiency and oversight. Among the most prominent are:

- Merging Directorates: The Finance and Accounts Directorates have been merged into a single directorate to improve coordination, streamline spending, and facilitate management.

- Creating New Directorates: The Assets Directorate has been established, a crucial step towards managing and preserving the company's assets and resources more professionally under a single directorate.

- Comprehensive Review: The structure includes several other positive modifications designed to serve SPC's ambitious vision as the "leading national arm" in the oil and gas sector.

The Future of the Staff: Between the Company and the Ministry

One of the most important aspects of the transformation is the status of human resources, for which a clear mechanism has been adopted: - Automatic Transfer: Employees of the Syrian Petroleum Company (the core of SPC) will be automatically transferred to the new Syrian Petroleum Company.

- Option for Permanent Employees: Employees (permanent employees) of the General Petroleum Corporation and its subsidiaries (such as Al-Furat Company and others) have been given two options:

1. Transfer to work within the SPC structure and join the main executive entity.

2. Remain with the Ministry of Energy, to be later redistributed and rotated among the various directorates of the Ministry according to its needs and new vision.

Institutional Transformation within a Broader Strategic Context

This step is not isolated from the overall context, as it coincides with:

- Field Recovery Efforts: SPC is working in coordination with the Syrian Arab Army to take over and rehabilitate oil and gas fields, such as the Al-Omar field, which used to produce 50,000 barrels per day but now produces no more than 5,000 barrels per day.

- Attracting Investments: SPC announced the interest of more than 90 foreign and Arab companies in investing in the sector, and the signing of agreements with major companies such as Chevron.

- Increasing Production: The company affirmed its commitment to increasing gas production by 50% by the end of 2026 through partnerships with Saudi companies such as ADES and Arabian Drilling.

Zaman Al Wasl

Tourism emerging as key economic driver in Syria amid recovery push: Minister

Al Arabiya — Wed, 28 Jan 2026 15:43:00 +0300

Tourism is being positioned as a main driver of Syria’s economy as the country works to rebuild and attract visitors following years of conflict, the Syrian Minister of Tourism told Al Arabiya English in exclusive statements.

According to Minister Mazen al-Salhani, the ministry is rolling out a series of initiatives to revive the sector during the phase of gradual recovery, which will focus on “the enhancement of sites and services, and the activation of domestic tourism through structured tourism routes, as well as rural and community-based tourism models.”

He added that the government is no longer treating tourism as “a secondary source of income,” but rather as a core part of economic growth.

Officials are targeting an increase of between 20 and 25 percent in tourism’s contribution to GDP within the next two years, rising to 30 to 35 percent by 2030, the Ministry of Tourism said in a press release.Reaching the short-term target depends on activating investment projects, tourism routes and related services, while achieving the 2030 goal requires continued security stability, stronger air connectivity and broader tourism offerings across leisure, cultural, coastal and urban segments.

The government is also working to strengthen private-sector participation through reform programs aimed at improving service quality, raising operational standards and boosting competitiveness.

Meanwhile, the ministry is also investing in digital platforms, training national talent and expanding tourism promotion at home and abroad to support Syria’s return to regional and international tourism markets.

Visitor numbers surge

In 2025, Syria’s tourism sector recorded a strong rebound with arrivals of Arab and foreign tourists rising 80 percent between January and November compared with the same period in 2024, according to Ministry of Tourism data.

Overall visitor numbers – including Syrians living abroad, Arabs and foreigners – increased 18 percent year on year to 3.56 million, with total arrivals expected to reach 4 million by the end of 2025.

Al-Salhani said the rise reflects “not only the re-activation of tourism flows, but a deeper strategic recovery extending beyond the economic domain.”

Renewed interest from Arab travelers “signals a transition to organized, civilian-driven mobility and a restored perception of Syria as a safe, attractive, and culturally rich destination,” he told Al Arabiya English.

Visitors from non-Arab countries reached 376,726, up 79 percent year on year, led by sharp increases from Turkey, Germany, the United Kingdom and Norway.

Arab tourist arrivals rose from 272,844 to 491,028, an 80 percent increase, driven mainly by visitors from Jordan, the Gulf and Egypt.

Officials also reported a decline in non-touristic border crossings, pointing to a shift toward travel for leisure and cultural purposes, according to the ministry.

Longer tourism season, stronger domestic travel

Tourism data for 2025 also showed a more balanced season compared with previous years.

Arrivals averaged about 54,000 Arab and foreign visitors per month in the first quarter, rising 40 percent from April to June.

While August remained the busiest month, October recorded a 15 percent increase over September, extending the tourism season beyond the traditional summer peak.

Domestic tourism also gained momentum, supported by improved security, expanded hospitality facilities and renewed cultural and heritage activities, according to data from the tourism ministry.

Officials revealed this has helped boost hotel occupancy rates across governorates and strengthened tourism’s role in local economic recovery.

Revenues from international hotels owned by the Ministry of Tourism rose 170 percent by the end of October, the data showed.

Investment partnerships also now require a minimum of 70 percent local employment, with priority given to graduates of tourism and hospitality institutions affiliated with the ministry.

Saudi investment interest

The Ministry of Tourism has adopted a 2026-2030 strategy focused on strengthening Syria’s cultural identity, attracting local and foreign investment and expanding cooperation with Arab and friendly countries.

Specifically, “Saudi investors show growing interest in Syria’s tourism sector across several strategic areas,” Al-Salhani told Al Arabiya English.

They are showing increasing interest particularly in Damascus, Rural Damascus and the Syrian coast, the minister said.

In Damascus and its surrounding areas, investment interest is focused on urban hotels, the reuse of heritage buildings in the Old City for hospitality projects and mixed-use developments that combine hotels with retail, dining and entertainment.

“These projects are driven by rising demand for urban tourism and business travel,” the minister explained.

Along the coast, investors are drawn to coastal tourism and integrated resort developments that make use of the region’s natural assets, and projects that leverage the region’s natural and environmental assets, according to the tourism minister.

“There is particular interest in balanced hospitality offerings targeting family tourism and regional visitors, with strong potential for sustainable seasonal operations,” he said.

“Saudi investors view Syria’s tourism market through a long-term investment lens, placing high value on regulatory clarity, stable public–private partnership frameworks, clear government roadmaps for improving service quality, modernizing operational standards, and enhancing the overall visitor experience in line with international benchmarks,” the minister noted.

Strategy and investment pipeline

Implementation began in 2025 with new tourism projects, investment agreements and memoranda of understanding, as well as efforts to resolve stalled developments.

The strategy also prioritizes diversification into cultural, medical, educational and historical tourism.

Medical tourism alone is projected to generate up to $500 million annually by 2030 and create more than 20,000 direct and indirect jobs, according to the ministry.

Officials say 1,468 tourism establishments across Syria require redevelopment or reactivation, presenting significant opportunities for investors as the country enters a renewed investment cycle.

Syria has stepped up its engagement with the global tourism system through participation in international tourism events and renewed cooperation with regional tourism organizations.

Tourism investors have also committed two percent of profits to social initiatives, including support for orphan care facilities and the rehabilitation of shelters over the next three years, aligning sector growth with broader social development goals.

Energy Ministry signs two agreements for sale and investment of phosphate

Mon, 19 Jan 2026 14:49:51 +0300

The General Establishment for Geology and Mineral Resources, affiliated with the Ministry of Energy, signed two agreements on Monday concerning the sale, investment, and marketing of phosphate. This comes as part of the Ministry's plan to increase production capacity and enhance the phosphate sector's role in supporting the national economy and boosting its revenues.

The agreements were signed in the presence of Energy Minister Mohammed al-Bashir at the Ministry building in Damascus.

The first agreement, signed with Al-Sharqia Trading and Contracting Company, involves the investment, exploration, production, and export of one million tons of phosphate from the mine site. Exports will be conducted via maritime transport within one year.

The second agreement, with Al-Hassan Holding Company, covers the sale and export of 2.5 million tons of phosphate. Of this, 1.5 million tons will be transported by sea and one million tons by land, thus expanding marketing channels.

The Syrian Ministry of Energy's Geological Establishment signed two agreements for the sale and investment of phosphate, aiming to increase production capacity.

The Director General of the General Establishment for Geology and Mineral Resources, Siraj al-Hariri, confirmed to SANA that the signing of these two agreements is part of the Ministry and Establishment's plan to increase phosphate production capacity and maximize the utilization of national resources. He explained that the agreements contribute to achieving real added value for the national economy and enhancing the presence of Syrian phosphate in foreign markets.

For his part, Hussam Sharqieh, Chairman of the Board of Directors of Sharqieh Company, indicated that the company looks forward to implementing larger and more comprehensive projects, particularly in the fields of fertilizer manufacturing and mining, in partnership with the Syrian government, which will contribute to supporting sustainable economic development.

In turn, Hassan Kamel al-Hassan, Chairman of the Board of Directors of al-Hassan Holding Company, expressed the company's aspiration to localize phosphate industries within Syria, explaining that the move towards manufacturing phosphate products locally will contribute to increasing added value and open up broader horizons for employment and investment. The General Establishment of Geology and Mineral Resources signed a cooperation agreement on December 17th with the Serbian company Tiryaq, a subsidiary of the ELIXIR GROUP, aimed at investing in and exporting 1.5 million tons of phosphate during 2026, in accordance with the highest internationally recognized technical specifications and standards.

Syrian-Egyptian Forum kicks off to discuss trade and investment cooperation

Sun, 11 Jan 2026 13:31:00 +0300

The Syrian-Egyptian Economic Forum, organized by the Chambers of Commerce of both countries, kicked off today at the Seven Gates Hotel in Damascus.

The forum, which includes the participation of officials, economic institutions, and business leaders from both countries, aims to strengthen trade and investment cooperation and establish joint ventures.

Minister of Economy and Industry Nidal al-Shaar emphasized that Syrian-Egyptian economic cooperation is a natural complementarity, given their similarities in production and consumption patterns, the nature of their human resources, and the pivotal role played by industry, agriculture, and services in both countries.

Minister al-Shaar added that strengthening economic cooperation between Damascus and Cairo is not limited to the exchange of goods, but rather is based on establishing joint projects and leveraging the similarity in consumption patterns and market preferences, thus increasing the chances of success and sustainability.

The head of the Federation of Syrian Chambers of Commerce, Alaa al-Ali, noted that the meeting is a strategic step towards reconstruction and development on all levels, adding that joint cooperation represents a pillar of economic strength for both Syria and Egypt in the coming phase.

The head of the Federation of Egyptian Chambers of Commerce, Ahmed El-Wakil, indicated that strengthening economic relations with Syria is an urgent necessity through an effective partnership between the private sector in the two countries.

E-commerce in Syria: A new pillar of the digital economy and promising opportunities for young people

Sat, 27 Dec 2025 07:24:00 +0300

E-commerce in Syria represents a promising pillar for strengthening the digital economy, given its ability to save time, effort, and costs, and the opportunities it offers young people and entrepreneurs to access new markets. Experts emphasize the importance of clear legislation regulating this sector and protecting the rights of both consumers and producers.

Amer Kharboutli, Director of the Damascus Chamber of Commerce, explained that e-commerce encompasses conducting all traditional business activities electronically, through social networks, the internet, payment methods, and e-marketing. This includes import and export activities, domestic trade, and sales via online platforms and applications.

Kharboutli noted that e-commerce has become a significant global phenomenon, being the most economical, fastest, least expensive, and most reliable method. He added that it has a high capacity to meet the needs of customers, suppliers, and business owners, highlighting its importance to the Syrian economy, which is moving towards digitalization and cost-effective technological solutions.

Youth and Entrepreneurs Among the Primary Beneficiaries

Kharboutli explained that e-commerce has become a vast space for business, especially for young people and entrepreneurs, providing them with new and unconventional opportunities that ensure profitability, sustainability, and added value in their projects.

Easing Economic Burdens and Increasing Productivity

For his part, economist Mohammad Al-Hallaq stated that e-commerce represents an effective tool for easing economic burdens by reducing waste associated with travel, waiting, and unproductive operational costs. He emphasized that relying on electronic applications and services to complete daily transactions contributes to saving time and effort and increasing productivity.

Al-Hallaq pointed out that the concept of e-commerce is not limited to selling goods only, but includes an integrated system of digital services that enhance the efficiency of economic performance, making e-commerce a true driver for rebuilding the national economy.

Ministry of Economy Reviewing Laws to Keep Pace with Digital Transformation

The Ministry of Economy and Industry is working on studying and amending the package of laws regulating commercial and consumer activity in Syria, within a comprehensive government plan aimed at modernizing the legislative framework, strengthening the investment environment, and protecting the rights of consumers and creators.

Practical Experiences Reflecting Opportunities for Success

On the practical side, Mahmoud Al-Ali, a small business owner, recounts his experience using digital applications to sell his products, emphasizing that they enabled him to reach new customers and reduce costs through direct marketing and rapid communication.

Meanwhile, Sarah Ibrahim points to her experience buying and selling through online platforms, noting that some were successful and helped him save money, while others were unsuccessful due to a lack of credibility, reflecting the need for greater awareness and clearer regulation of this sector.

The importance of e-commerce in Syria is highlighted by the accelerating shift towards a digital economy and the adoption of modern technologies in economic activity. This coincides with the government's efforts to update regulatory legislation to achieve a balance between encouraging innovation and protecting consumer rights, making e-commerce a genuine driver of sustainable economic growth.

SANA, Zaman al-Wasl

Damascus: Russia's Energy Contracts Face a New Phase of Scrutiny

Zaman Al Wasl — Fri, 26 Dec 2025 11:03:00 +0300

The oil and gas contracts Moscow signed during the war years in Syria face potential review amid the changing political landscape in the country. This is particularly true for contracts granted to companies such as "Mercury," "Soyuz Nefte Gaz," "Euro Polis," and "STG."

Offshore Contracts in Blocks 1 and 2 have not translated into actual operations despite more than a decade passing since their signing. Estimates point to high risks, significant costs, and border disputes that have prevented the start of drilling.

In contrast, Russian investments in Qara, key town in the Qalamoun region northeast Damascus, have achieved tangible progress, with 8 gas wells entering production and supporting the electricity grid. This reflects a trend towards less complex, faster-return fields.

Legal experts confirm that contracts signed under exceptional circumstances may be subject to challenge, while the lack of offshore implementation provides grounds for their cancellation. Contracts linked to "Euro Polis," in particular, face additional complications due to the company's association with paramilitary groups.

The fate of these agreements will depend on upcoming political understandings. Expectations suggest that non-producing contracts will be considered liable to annulment under any new legal framework.

Shell Initiates Final Withdrawal Procedures from Syria: Report

Zaman Al Wasl — Fri, 26 Dec 2025 02:41:00 +0300

Shell is taking decisive steps towards a complete withdrawal and liquidation of its operations in Syria, cross-referenced sources told Zaman al-Wasl on Thursday. This strategic decision marks the end of decades of the company's presence in the Syrian oil and gas sector.

The corridors of the Syrian Ministry of Petroleum and Mineral Resources have witnessed a series of meetings to discuss the implications of Shell's decision. The main meeting brought together senior company officials with the Minister of Energy, Eng. Mohammed al-Bashir, to discuss the legal and financial framework for the exit process.

It is worth noting that the operations of "Al-Furat Petroleum" (operated by Shell) have been practically suspended since 2012, in compliance with European Union sanctions imposed on the Syrian regime. Although it joined the list of European companies that suspended field operations, Shell maintained its legal presence in the country until the current liquidation decision.

Complex Scenarios and a Heavy Legacy:

The liquidation decision opens the door to several complex legal possibilities, especially since Shell's contract in Syria includes other international partners (a Chinese and an Indian company). Fundamental questions arise regarding the fate of this partnership:

Will Shell cede its share to the current (Chinese and Indian) partners?

Or will an agreement be reached to terminate the entire joint contract by the three partners and the Syrian side (the Syrian Petroleum Company)?

Will the state choose to grant operating rights ("blocks") to an entirely new company replacing the European giant?

Substantial Debt and Technical Legacy:

Parallel to the withdrawal negotiations, the issue of outstanding debts owed by the Syrian side to Shell, estimated at approximately $200 million US dollars, comes to the fore. This thorny file is expected to form a central part of the liquidation agreement. This indebtedness stems from Shell's financing of technical support and production in fields such as Al-Omar, Al-Tayim, Al-Ward, and Al-Tanak, where these costs, plus a specified profit margin, were to be recovered from the oil production of those fields.

On the technical side, sector experts praise Shell's role (through Al-Furat) as a high-caliber oil school, as its stringent standards contributed to qualifying and training a generation of Syrian personnel, equipping them with global expertise.

Additional Background and Motives for Withdrawal:

The company's operations have remained suspended since 2012, with previous hope of resuming activity if Western sanctions were lifted. Analysis suggests that the actual motives for withdrawal may be primarily technical, especially since some fields linked to the company's work, foremost being the Al-Omar field, are outside the control of the Syrian government, complicating any prospect of resuming operations or recovering investments.

Editing by Mohamed Hamdan

Syrian Investment Authority explores tech partnership with U.S. General Electric

Wed, 24 Dec 2025 17:34:09 +0300

Damascus (SANA)- Head of Syria’s Investment Authority met Tuesday with a delegation from U.S. energy giant GE Vernova to discuss potential investments and technology transfer to the Syrian market.

The Authority’s Director-General, Talal al-Hilali, outlined Syria’s investment law, highlighting incentives and opportunities for foreign companies. He noted that GE Vernova’s business areas align closely with Syria’s national development priorities and could play a key role in supporting technology transfer and economic growth.

The GE Vernova delegation expressed interest in entering the Syrian market and contributing to the nation’s rehabilitation and development. They also emphasized their readiness to share expertise in education and capacity-building within the relevant sectors.

The meeting is part of Syria’s broader push to attract strategic international investments aimed at developing vital industries and advancing sustainable development.

GE Vernova is a leading global energy company that includes Power, Wind, and Electrification segments.

Over 18,000 new companies registered in Syria in year since liberation

Wed, 24 Dec 2025 13:31:00 +0300

Syria has registered more than 18,000 new companies in the year following its liberation from the former regime, the Ministry of Economy and Industry said Tuesday, marking an increase of 9,348 compared with the previous year.

According to the ministry, 13,598 of the new businesses were individual commercial registrations, while 1,526 were general partnerships, 158 limited partnerships, 63 joint-stock companies, and 2,678 limited liability companies.

The ministry attributed the surge to government efforts to streamline procedures for establishing and managing businesses and to improve investor services. In July, the Ministry reopened the Companies Directorate in Damascus after full renovations aimed at offering more flexible and higher-quality services to investors and entrepreneurs.

The ministry added that 11,172 companies were registered from January through September, highlighting a faster registration pace in the final quarter of the year.

SANA

Major agreements at top and systematic waste at bottom

Zaman Al Wasl — Sat, 20 Dec 2025 02:37:00 +0300

While the official platforms of the Syrian Petroleum Company are busy promoting international investment agreements as "strategic achievements" that will transform the economic landscape, a completely different reality is unfolding behind the scenes: the daily squandering of millions of liters of diesel fuel, with no serious action taken to stop this systematic waste of national wealth. Syria's Tourism

The Shocking Paradox: Investment Abroad, Waste at Home

These current contradictions raise a fundamental question: What is the point of signing development contracts worth billions of Syrian pounds if the available resources are being wasted so easily? The fuel sector, which represents the backbone of the Syrian economy and essential services, continues to be managed with a rigid mindset that fails to grasp the sensitivity of the current situation or the magnitude of the successive crises affecting daily life.

The Public Sector: A Safe Haven for the Black Market?

Huge quantities of diesel fuel are supplied monthly to public sector institutions (hospitals, bakeries, telecommunications, municipalities, and sanitation services) to ensure the continued operation of vital facilities. However, multiple testimonies and sources confirm that a significant portion of these allocations does not reach generators or government vehicles, but rather leaks through "alternative channels" to the black market.

The biggest missing element here is the oversight role of the Syrian Company for the Storage and Distribution of Petroleum Products (SADCOP). Despite possessing the technical capabilities, the reality reveals:

- Lack of tanker tracking: a loss of control over the movement of fuel from depots to its final destination.

- Inadequate auditing: a lack of genuine alignment between "actual needs" and allocated allocations, leaving wide loopholes for manipulation.

- Suspicions surrounding oversight committees: some quality and control committees have become mere figureheads lacking expertise, amidst accusations against some staff members of illicit coordination with administrative branches.

Solutions Absent Due to Administrative Decisions

Observers believe that the solution does not require "miracles," but rather basic technical and administrative measures that experts have been calling for for years, most notably:

- Re-engineering Needs: a precise technical assessment of each sector based on actual operating hours.

- Smart Oversight: Implementing digital tracking systems and effective accountability that go beyond "pre-prepared" paper reports.

- Oversight Independence: Forming specialized technical committees independent of the direct influence of branch management.

Beyond Simply Changing Names

The crisis in the management of the Mahrukat Company is no longer about changing a director or replacing one official with another; it is a crisis of "will" and the absence of a national strategy to protect what remains of the resources. The Syrian Petroleum Company must realize that Mahrukat is its true face to the citizen, and that every liter of diesel wasted is a blow to the wall of trust, a failure that cannot be masked by the glitter of international agreements.

This continued hemorrhage is not merely an administrative flaw, but a direct squandering of the Syrian people's livelihood and their sovereign wealth. The silence of the relevant authorities is no longer acceptable or justifiable.

Structural missteps hinder reform of the Syrian oil sector

Zaman Al Wasl — Thu, 18 Dec 2025 11:29:49 +0300

While nations strive to develop their oil sectors by adopting the latest administrative systems and technologies, the Syrian oil sector remains stagnant, caught in a whirlwind of administrative and structural disarray. The issue is not merely a lack of resources or expertise, but lies in the very methodology of work; where the "cart is put before the horse," leading to a waste of time and effort without achieving real progress on the ground.

A Difficult Labor… and a Structure Yet to See the Light:

Despite the passage of nearly seven months since the issuance of the decree establishing the Ministry of Energy to succeed the three former ministries, and two months since the founding of the "Syrian Petroleum Company" (SPC) as a separate entity from the ministry, this nascent company is still undergoing difficult labor.

The biggest challenge lies in the lack of clarity regarding its administrative structure and operational mechanisms; the foundational organizational principles it will follow have not yet been defined. While the current administrative system of the Syrian oil sector is unique in its design and unlike the systems of neighboring countries, it has simultaneously become outdated and has not undergone genuine development to keep pace with current requirements.

Travel for Reconnaissance: A Stopgap Measure or an Attempt to Learn?

In an attempt to find solutions, a high-level administrative and financial delegation from the company, comprising about seven members—including Administrative Development Director Majed Hadeed and Financial Director Abu Tameem—was recently dispatched to the Kingdom of Saudi Arabia to learn about the structure of the giant company "Aramco."

This step raises fundamental questions: Is a reconnaissance visit by an administrative team, not fully versed in the details of the Syrian oil institutions slated for merger, sufficient? Especially since these officials previously worked in the "Oil Derivatives Administration" affiliated with the "Salvation Government,and have not previously been engaged in the existing government sector to be able to devise an alternative structure for it. Would it not have been more fruitful to first study the local reality with the participation of specialized experts brought in for this very purpose?

The government sector involves enormous financial and administrative complexities and intricacies, and it is likely that the dispatched individuals are not sufficiently aware of these details; the evidence being that the structure they previously devised was full of gaps.

Where is the Flaw in Methodology?

The root of the problem seems to lie in the decision-making methodology, whose issues can be summarized in the following points:

Rushing to announce the structure before completing its prerequisites: The premature issuance of the establishment decree, without a comprehensive study of the required management system and structure, or the nature of international contracting systems specific to the oil sector, has led to a regulatory vacuum that hinders workflow.
Lack of proactive reliance on global expertise: Instead of wasting months on self-reliant trials, it would have been possible from the outset to enlist administrative experts from global companies like "Aramco," explaining the complex Syrian reality to them to benefit from their experience in drawing up a suitable plan, rather than attempting to "reinvent the wheel."
Experience gap within the concerned team: Most members of the team responsible for this difficult task lack prior experience working within public sector institutions, let alone not having full comprehension of the operational mechanisms and details of the oil institutions whose assets are to be merged.

Political Success is No Substitute for Administrative Reform:

One cannot deny a relative improvement in the performance of the oil sector recently, such as the return of some foreign companies—a matter attributed essentially to the improvement in the political climate and international openness towards Syria, which is a "political success" par excellence. But this success, despite its importance, cannot replace genuine administrative and structural reform that ensures sustainable performance, rationalizes spending, and increases productivity.

Shadow Government Recommendations for the Public Interest:

There is still time to correct the course. Extrication from this predicament requires a serious pause to reorder priorities and start by putting the "horse" in its correct place before the "cart." An in-depth study of the current reality must be conducted with the participation of neutral experts, benefiting from successful global models while adapting them to suit the Syrian context, and selecting the qualified competencies for this delicate national task. The future of the Syrian oil sector, as the lifeblood of the economy, deserves every possible effort to break free from the cycle of confusion and build a strong institution based on sound scientific and administrative foundations.

Huge Saudi contracts to increase Syrian gas production and create 2,500 jobs

Zaman Al Wasl — Tue, 16 Dec 2025 14:22:00 +0300

The CEO of the Syrian Petroleum Company (SPC), Youssef Qiblawi, announced the signing of contracts with major Saudi companies. He expects this partnership to have a "significant impact on increasing gas production" in Syria and to secure 2,500 new job opportunities for engineers, technicians, and workers.

This announcement was made during a celebration held by the company on the occasion of "Liberation Day" at its headquarters in Damascus, attended by the Minister of Energy, Eng. Muhammad Al-Bashir.

In a related context, the CEO revealed that the final contract for this strategic partnership is expected to be signed "within a month," indicating that work on these vital projects will soon enter the implementation phase.

This cooperation is considered an important step toward enhancing the infrastructure of the Syrian energy sector and providing the necessary resources to support the local economy.

State Oil Company is on verge of important agreements: Chairman

Mon, 08 Dec 2025 00:57:00 +0300

Youssef Qablawi, CEO of the Syrian Petroleum Company (SPC), stated in a post on the "X" platform that several international companies are preparing to sign a series of strategic agreements with SPC.

These agreements aim to strengthen the presence of global companies in the Syrian market, paving the way for a new phase of fruitful international cooperation in the oil and gas sector.

On December 2nd, Qablawi met with a delegation from the American company Chevron, in the presence of President Ahmed al-Sharaa. The meeting addressed opportunities for cooperation in offshore exploration projects off the Syrian coast.

On November 18th, SPC signed a strategic memorandum of understanding with the American companies ConocoPhillips and Novaterra, with the goal of supporting the national economy and improving the level of services provided to citizens, according to a report by the Syrian News Agency.

Syria's Al-Sharaa Pitches Economic Recovery to Qatari Business Leaders

Zaman Al Wasl — Sun, 07 Dec 2025 10:29:16 +0300

On the sidelines of his participation in the Doha Forum 2025, Syrian President Ahmad al-Sharaa held a meeting on Saturday with the Qatar Businessmen Association (QBA).

According to the Syrian Presidency, President al-Sharaa met with QBA Chairman Sheikh Faisal bin Qassim Al Thani and several association members in Doha. The meeting was attended by Syrian Minister of Foreign Affairs, Asaad al-Shaibani.

The session is part of Damascus's efforts to establish direct communication channels with Qatari economic and financial institutions. The primary objective is to attract investments that would contribute to Syria's economic recovery and reconstruction programs.

Al-Sharaa's Economic Agenda and Reconstruction Efforts

President Ahmad al-Sharaa, who assumed office in 2024, has made economic revival a central pillar of his administration. His agenda, often referred to as the "Economic Resilience and Development Program," aims to address the severe economic contraction, infrastructure devastation, and investor wariness resulting from over a decade of conflict.

Key pillars of this agenda include:

Legislative Reforms: Enacting new investment laws designed to offer incentives, guarantees, and simplified procedures for foreign capital, particularly in priority sectors like energy, agriculture, telecommunications, and transport.
Public-Private Partnerships (PPPs): Promoting PPP models to fund large-scale infrastructure projects, including power plants, ports, and highway networks.
International Outreach: Actively seeking to reintegrate into regional economic circles and normalize economic relations with Arab and international partners, following Syria's readmission to the Arab League in 2023. The Qatari engagement is viewed as a significant step in this direction.
Focus on "Quick-Win" Sectors: Prioritizing sectors that can generate rapid employment and economic activity, such as agriculture, light industry, and digital services.

Despite these efforts, international sanctions, political complexities, and concerns over long-term stability continue to pose substantial challenges to large-scale foreign investment. The direct engagement with Qatari business leaders in Doha is seen as a tangible move to bypass political hurdles and build concrete economic partnerships.

President al-Sharaa arrived in the Qatari capital on Friday evening to take part in the Doha Forum 2025.

Editing by Mohamed Hamdan

UK defines rules for business with Syria as firms explore post-sanctions market

Reuters — Tue, 02 Dec 2025 12:57:00 +0300

Britain on Tuesday set out rules for companies and banks considering investing in Syria, responding to growing interest from businesses after Western powers rolled back sanctions to support reconstruction.

Syria is seeking to rebuild after the collapse of former president Bashar al-Assad’s decades-long rule last December. His overthrow has prompted Britain and the United States to ease sanctions and advise companies considering investing.

In guidance published on Tuesday, the British government noted the commercial opportunities and said it is supportive of “businesses investing, trading, and operating in Syria, where that activity is compliant with UK legislation, and where the end destination is Syria.”

It stressed compliance with sanctions law, export controls and anti-money laundering rules. It also outlined licensing routes, including general licenses and humanitarian exemptions.

The government warned of high risks, however, including corruption and sanctions evasion.

In April, Britain lifted sectoral sanctions, reopening energy, transport and finance, while Washington terminated its Syria sanctions program in June under new waivers. The EU has also eased measures tied to reconstruction.

A World Bank report predicted the cost of Syria’s reconstruction at $216 billion, saying the figure was a “conservative best estimate.”