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

By Abdulsalam Fayez and Rania Abu Shamala​​​​​​​

ISTANBUL (AA) - 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.