Syria resumes petroleum exports from strategic Banias refinery

After several months of interruption following a major political upheaval, Syria's Banias refinery has shipped its first cargo of refined products abroad, marking a partial revival of its energy sector.

Share:

Syria has recently resumed exports of refined petroleum products from its main refinery located in Banias, after several months of shutdown caused by the interruption of crude oil supplies from Iran. This return to international activities at the refinery comes after a major reorganization of crude supplies, now partially secured by deliveries from Russia.

Revival facilitated by new partners

The Banias refining facility, theoretically capable of processing up to about 120,000 barrels per day of crude oil, was forced to halt refining operations in late 2024 after Iranian imports stopped. The fall of Bashar al-Assad’s regime immediately triggered the suspension of hydrocarbon shipments from Iran, leading to a major energy crisis in the country.

The gradual resumption of activities at Banias was enabled starting last April thanks to the arrival of new crude oil shipments from Russia. This development coincides with a limited easing phase of international economic sanctions imposed by the European Union and the United States, enabling Syria to restart certain international energy collaborations.

First international shipment confirmed

Syrian authorities have officially announced that an initial cargo of 30,000 metric tonnes of petroleum products recently departed from the Banias refinery destined for foreign markets. This shipment was organized under the authority of the state-owned company Syria Trading Oil Company (Sytrol) and marks an important strategic step in the stated ambition to restore the country’s petroleum industry.

Syria, traditionally a crude oil exporter before the civil war that began in 2011, saw its energy capabilities severely impacted by prolonged internal conflicts. Prior to the conflict, oil exports generated nearly 3 billion dollars per year in revenues, according to historical data provided by the US Energy Information Administration (EIA).

Prioritizing domestic demand

Despite this resumption, sector analysts estimate that refined petroleum products will remain primarily targeted toward the Syrian domestic market. Indeed, even before the conflict, the combined capacities of Banias and Homs refineries were insufficient to fully meet local demand, regularly necessitating additional imports of diesel and liquefied petroleum gas (LPG).

Currently, faced with an energy infrastructure severely damaged by years of conflict, Syrian authorities continue issuing international tenders to urgently import fuel. Recently, a procedure was launched to secure monthly LPG supplies between July and September 2025, thus highlighting the persistent precariousness of the national energy sector.

In this challenging context, the resumption of exports from Banias represents a key indicator of evolving Syrian energy policy, emphasizing the country’s efforts to gradually reintegrate into the international energy market despite numerous technical and political constraints that persist.

Petro-Victory Energy announces the completion of drilling operations for the AND-5 well in the Andorinha field, Brazil, with positive reservoir results and next steps for production.
The Colombian prosecutor’s office has seized two offices belonging to the oil company Perenco in Bogotá. The company is accused of financing the United Self-Defense Forces of Colombia (AUC) in exchange for security services between 1997 and 2005.
Indonesia has signed a memorandum of understanding with the United States to increase its energy imports. This deal, involving Pertamina, aims to diversify the country's energy supply sources.
VAALCO Energy continues to operate the Baobab field by renovating its floating platform, despite modest production. This strategy aims to maintain stable profitability at low cost.
An empty reservoir exploded at a Lukoil-Perm oil facility in Russia, causing no injuries according to initial assessments pointing to a chemical reaction with oxygen as the cause of the accident.
The British Lindsey refinery has resumed fuel deliveries after reaching a temporary agreement to continue operations, while the future of this strategic site remains under insolvency proceedings.
BP and Shell intensify their commitments in Libya with new agreements aimed at revitalizing major oil field production, amid persistent instability but rising output in recent months.
The private OCP pipeline has resumed operations in Ecuador following an interruption caused by heavy rains, while the main SOTE pipeline remains shut down, continuing to impact oil exports from the South American country.
McDermott secures contract worth up to $50 million with BRAVA Energia to install subsea equipment on the Papa-Terra and Atlanta oil fields off the Brazilian coast.
Saudi Aramco increases its oil prices for Asia beyond initial expectations, reflecting strategic adjustments related to OPEC+ production and regional geopolitical uncertainties, with potential implications for Asian markets.
A bulk carrier operated by a Greek company sailing under a Liberian flag suffered a coordinated attack involving small arms and explosive drones, prompting an Israeli military response against Yemen's Houthis.
The Canadian government is now awaiting a concrete private-sector proposal to develop a new oil pipeline connecting Alberta to the Pacific coast, following recent legislation intended to expedite energy projects.
Petrobras is exploring various strategies for its Polo Bahia oil hub, including potentially selling it, as current profitability is challenged by oil prices around $65 per barrel.
Brazilian producer Azevedo & Travassos will issue new shares to buy Petro-Victory and its forty-nine concessions, consolidating its onshore presence while taking on net debt of about USD39.5mn.
Major oil producers accelerate their return to the market, raising their August quotas more sharply than initially expected, prompting questions about future market balances.
Lindsey refinery could halt operations within three weeks due to limited crude oil reserves, according to a recent analysis by energy consultancy Wood Mackenzie, highlighting an immediate slowdown in production.
The flow of crude between the Hamada field and the Zawiya refinery has resumed after emergency repairs, illustrating the mounting pressure on Libya’s ageing pipeline network that threatens the stability of domestic supply.
Libreville is intensifying the promotion of deep-water blocks, still seventy-two % unexplored, to offset the two hundred thousand barrels-per-day production drop recorded last year, according to GlobalData.
The African Export-Import Bank extends the Nigerian oil company’s facility, providing room to accelerate drilling and modernisation by 2029 as international lenders scale back hydrocarbon exposure.
Petronas begins a three-well exploratory drilling campaign offshore Suriname, deploying a Noble rig after securing an environmental permit and closely collaborating with state-owned company Staatsolie.