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Saudi oil shipment arrives at Syria’s Baniyas port
(MENAFN) A Saudi oil tanker carrying 650,000 barrels of crude oil has arrived at Syria’s Baniyas port in Tartous governorate, Syrian media reported Monday.
State-run news outlet described the shipment as “the first of its kind, provided as support to the Syrian government.”
Earlier, the channel reported on a government plan to build a new oil refinery to replace the aging facility in Homs, with a projected capacity of 150,000 barrels per day. The old refinery lies about 7 kilometers west of Homs, while the new facility is being constructed roughly 50 kilometers east of the city.
In 2010, oil represented 20% of Syria’s GDP, half of its exports, and over 50% of state revenues. At that time, the country produced 390,000 barrels per day, but output fell sharply to just 40,000 barrels per day by 2023.
During the 2011-2024 uprising against the former regime, Syria depended largely on Iran for electricity-generating oil, though supplies were cut off after Bashar al-Assad was ousted in December last year.
State-run news outlet described the shipment as “the first of its kind, provided as support to the Syrian government.”
Earlier, the channel reported on a government plan to build a new oil refinery to replace the aging facility in Homs, with a projected capacity of 150,000 barrels per day. The old refinery lies about 7 kilometers west of Homs, while the new facility is being constructed roughly 50 kilometers east of the city.
In 2010, oil represented 20% of Syria’s GDP, half of its exports, and over 50% of state revenues. At that time, the country produced 390,000 barrels per day, but output fell sharply to just 40,000 barrels per day by 2023.
During the 2011-2024 uprising against the former regime, Syria depended largely on Iran for electricity-generating oil, though supplies were cut off after Bashar al-Assad was ousted in December last year.
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