Syria allows oil imports to address local market demand for fuel

Syria has opened the door for oil imports from all international and commercial entities to supply derivatives to the local market, the country's oil minister said on Monday.

Speaking to Syrian state television, Ghiath Diab said the move comes as the country faces a severe shortage of oil derivatives in the local market, with daily imports of varying quantities from neighboring Lebanon.

"Tenders will be issued for oil imports, and we will contract with the best options available," Diab said.

He noted that imports have already started with about three tankers carrying 15,000 tons to provide supplies to the local market.

The deposed regime of Bashar al-Assad relied heavily on allies, particularly Russia, to meet local crude oil demands, as shown by data from Kepler, an oil analytics service. However, no official data is currently available on Syria's daily crude oil needs.

"I haven't observed any significant impact of the sanctions on oil imports in the past, which were easily facilitated under the Assad regime. The previous regime relied on allies like Iran and Russia for oil supplies," Diab said.

Earlier, Turkish Minister of Energy and Natural Resources Alparslan Bayraktar announced that Türkiye would increase energy supplies to Syria to contribute to stability in the country and the region.

Assad, Syria's leader for nearly 25 years, fled to Russia after anti-regime groups took control of Damascus on Dec. 8, ending his family's decades-long rule.

The takeover came after Hayat Tahrir al-Sham fighters captured key cities in a lightning offensive that lasted less than two weeks.

A new administration led by Ahmed al-Sharaa has now taken charge.