Saudi tanker carrying 650,000 barrels of crude oil arrives at Syria’s Baniyas port

ISTANBUL

An oil tanker from Saudi Arabia carrying 650,000 barrels of crude oil has arrived at Syria’s Baniyas port in Tartous governorate, Syrian media reported Monday.

State-run Alikhbariah TV said the shipment is “the first of its kind, provided as support to the Syrian government.”

Earlier on Monday, the channel reported on a government project to build a new oil refinery to replace the old one in Homs, with a capacity of 150,000 barrels per day.

The old refinery is located about 7 kilometers (4.35 miles) west of the city, while the new one is being constructed around 50 kilometers (31 miles) east of Homs.

In 2010, oil accounted for 20% of Syria’s GDP, half of its exports and more than 50% of state revenues.

The country produced 390,000 barrels per day, but output declined sharply to just 40,000 barrels per day in 2023.

During the uprising against the former regime from 2011-2024, Syria relied on Iran for most of the oil used to generate electricity, but supplies were cut off after Bashar al-Assad was ousted in December last year.

ISTANBUL

An oil tanker from Saudi Arabia carrying 650,000 barrels of crude oil has arrived at Syria’s Baniyas port in Tartous governorate, Syrian media reported Monday.

State-run Alikhbariah TV said the shipment is “the first of its kind, provided as support to the Syrian government.”

Earlier on Monday, the channel reported on a government project to build a new oil refinery to replace the old one in Homs, with a capacity of 150,000 barrels per day.

The old refinery is located about 7 kilometers (4.35 miles) west of the city, while the new one is being constructed around 50 kilometers (31 miles) east of Homs.

In 2010, oil accounted for 20% of Syria’s GDP, half of its exports and more than 50% of state revenues.

The country produced 390,000 barrels per day, but output declined sharply to just 40,000 barrels per day in 2023.