Syria makes first official crude export in 14 years

Country signals return to global energy market by shipping 600,000 barrels from Tartus

The tanker Nissos Christiana, which is carrying the first shipment of crude oil from Syria since the fall of the Assad regime. Reuters

Syria's parliament and state energy authorities have confirmed the dispatch of the postwar nation's first official crude shipment in 14 years, signalling its return to the global energy market.

The 600,000 barrels of heavy crude set sail from the historic port of Tartus aboard the Nissos Christiana tanker, under a deal with B Serve Energy, affiliated with global trader BB Energy, the Syrian authorities told Reuters on Monday.

Syria was exporting about 380,000 barrels of oil per day before civil war broke out in 2011.

Riyad al-Joubasi, assistant director of oil and gas at Syria's Energy Ministry, confirmed the shipment left from wells within Syrian territory. He did not give details of the transaction.

The long-awaited export follows key shifts in Syria's diplomatic and economic position, including the ousting of president Bashar Al Assad in December 2024.

A pivotal shift took place at the end of June when US President Donald Trump lifted sanctions to open paths for American investment in the country's energy sector.

In May, the Syrian government and DP World, the Dubai-based global ports operator, signed an initial agreement worth $800 million to develop Syria's Tartus port.

In further steps for oil export expansion, Iraq and Syria discussed the revival of the long-defunct Kirkuk-Baniyas oil pipeline in early August that once transported Iraqi crude to Europe via Syria.

Effects of civil war

Before the civil war, oil was the backbone of Syria's economy. It accounted for up to 25 per cent of its gross domestic product, according to the International Monetary Fund, and nearly $3 billion in annual revenue.

But the war changed everything. Oil production had taken a nosedive by 2014, plummeting to about 25,000 bpd, according to a US Energy Information Association country analysis in 2015.

The sharp declines were driven by extensive damage to infrastructure, including to power grids and gas refineries, after ISIS took control of key oilfields and Syria lost its connection to global energy markets.

Western sanctions also halted most exports and crippled Syria's ability to import refined products. As a result, the country became heavily reliant on discounted or free oil from Iran. It imported about 60,000 bpd in the years immediately after 2011, according to the EIA.

Domestic refining at Baniyas and Homs operated well below capacity. At Baniyas it ran at between 40 per cent and 60 per cent, and at Homs it was about 10 per cent, according to statements from the prime minister at the time, Wael Al Halqi.

Tides of change

In June this year, the Baniyas refinery partially resumed operations, exporting 30,000 metric tonnes of petroleum products.

At the same time, Syria issued tenders for the delivery of millions of barrels of crude and oil products to its Baniyas port. The move signalled intent to restore supply chains despite limited interest from major oil traders because of lingering sanctions concerns.

The country's prospects for oil exports and investments were revitalised when President Trump lifted many sanctions that affected its energy sector, including its oil ministry, maritime authority and state marketing firm Sytrol.

Production levels remain far below pre-war levels, but Syria's export capacity is gradually reviving due to the lifted sanctions, emerging partnerships and investments, as well as Russian shipments, according to recent reports.