Syrian tanker docks in Trieste, first crude delivery in 14 years

A Syrian vessel carrying 640,000 barrels of crude has docked in Italy, marking the country’s first oil shipment since the civil war began in 2011, amid partial easing of US sanctions.

Share:

Comprehensive energy news coverage, updated nonstop

Annual subscription

8.25$/month*

*billed annually at 99$/year for the first year then 149,00$/year ​

Unlimited access • Archives included • Professional invoice

OTHER ACCESS OPTIONS

Monthly subscription

Unlimited access • Archives included

5.2$/month*
then 14.90$ per month thereafter

FREE ACCOUNT

3 articles offered per month

FREE

*Prices are excluding VAT, which may vary depending on your location or professional status

Since 2021: 35,000 articles • 150+ analyses per week

A crude oil tanker from Syria has docked at the Italian port of Trieste after a partial stop in Sardinia, marking the first crude export from the country in 14 years. According to S&P Global Commodities at Sea data, the Nissos Christiana vessel, operated by Kyklades Maritime Corp., departed from Syria’s Tartous port on September 1 with around 640,000 barrels of heavy sour crude on board.

An initial cargo of 200,000 barrels was unloaded on September 10 at the Sarroch oil terminal, located on the southern coast of Sardinia. The remaining 440,000 barrels are currently moored at the SIOT terminal in Trieste, according to maritime tracking data. The vessel’s operator declined to comment.

Vitol and the Sarroch refinery

The Sarroch refinery, with a capacity of 300,000 barrels per day, is operated by Saras, which is owned by trading firm Vitol. It is Italy’s second-largest refinery. Vitol did not comment on the delivery. In August, the Sarroch terminal received an average of 136,000 barrels per day, mainly from Libya and Turkey. Russia had also supplied volumes until the European Union’s mid-July ban on seaborne imports of Russian crude and refined petroleum products took effect.

Syria’s return to international oil markets comes shortly after a partial lifting of US sanctions targeting the Syrian energy sector. The easing in July allows commercial operations with entities complying with US restrictions.

Limited production capacity

Before the outbreak of civil war in 2011, Syria produced between 380,000 and 400,000 barrels per day, with exports primarily directed to Mediterranean markets. Today, actual production is estimated at between 80,000 and 100,000 barrels per day, due to widespread infrastructure damage including pipelines and refineries.

Minister of Energy Mohammed al-Bashir stated that current oil fields have a capacity of up to 200,000 barrels per day but cannot operate at full potential. High costs to rehabilitate damaged infrastructure remain a major barrier to full recovery.

Sales terms and crude pricing

The crude shipped from Tartous was sold under FOB (Free on Board) Tartous terms, priced using a five-day average of Platts-assessed Dated Brent spot prices, part of S&P Global Commodity Insights. On the vessel’s departure date, September 1, Dated Brent was assessed at $68.91 per barrel, falling to $67.60 by September 15. No official figures were disclosed regarding Syria’s revenue from the shipment.

Prior to 2011, Syria published official selling prices for its Syrian Light and Syrian Heavy grades, though these assessments were discontinued in 2022. Since 2012, Syria has been a net oil importer, relying on domestic refining for internal consumption.

Iraq is negotiating a potential revision of its OPEC production limit while maintaining exports at around 3.6 million barrels per day despite significantly higher capacity.
Le Premier ministre hongrois se rendra à Washington pour discuter avec Donald Trump des sanctions américaines contre le pétrole russe, dans un contexte de guerre en Ukraine et de dépendance persistante de la Hongrie aux hydrocarbures russes.
Nigerian tycoon Aliko Dangote plans to expand his refinery’s capacity to 1.4 million barrels per day, reshaping regional energy dynamics through an unmatched private-sector project in Africa.
COOEC has signed a $4bn EPC contract with QatarEnergy to develop the offshore Bul Hanine oil field, marking the largest order ever secured by a Chinese company in the Gulf.
The group terminates commitments for the Odin and Hild rigs in Mexico, initially scheduled through November 2025 and March 2026, due to sanctions affecting an involved counterparty, while reaffirming compliance with applicable international frameworks.
Shell has filed an appeal against the cancellation of its environmental authorisation for Block 5/6/7 off the South African coast, aiming to continue exploration in a geologically strategic offshore zone.
The Greek government has selected a consortium led by Chevron to explore hydrocarbons in four maritime zones in the Ionian Sea and south of Crete, with geophysical surveys scheduled to begin in 2026.
Algerian company Sonatrach has resumed exploration activities in Libya's Ghadames Basin, halted since 2014, as part of a strategic revival of the country's oil sector.
The Indian refiner segments campaigns, strengthens documentary traceability and adjusts contracts to secure certified shipments to the European Union, while redirecting ineligible volumes to Africa and the Americas based on market conditions.
US authorities have authorised a unit at Talen Energy’s Wagner plant in Maryland to operate beyond regulatory limits until the end of 2025 to strengthen grid reliability.
Gran Tierra Energy has signed a crude oil sale agreement with a $200mn prepayment and amended its Colombian credit facility to improve financial flexibility.
Operations at BP’s 440,000 barrel-per-day Whiting refinery have resumed following a temporary shutdown caused by a power outage and a minor fire incident.
The European Union targets a trading subsidiary and a refinery linked to China National Petroleum Corporation, tightening access to financial and insurance services without disrupting pipeline deliveries, with reallocations expected in settlements, insurance, and logistics. —
Viktor Orban says he is working to bypass recent US sanctions targeting Rosneft and Lukoil, underscoring Hungary’s continued reliance on Russian hydrocarbons.
Traceability requirements from the EU (European Union) on fuel origin are reshaping Indian refined flows, with a shift toward Africa and Brazil supported by local premiums and a decline in Russian exports.
U.S. sanctions targeting Rosneft and Lukoil trigger a rebound in oil, while the European Union prepares a clampdown on liquefied natural gas and maritime logistics, with immediate repercussions for markets and Russia’s export chain.
Ten days before COP30, Brazil awarded five offshore oil blocks for over $19mn, confirming its deepwater development strategy despite environmental criticism.
Tripoli mise sur des partenariats avec des majors et jusqu’à 4 milliards $ d’investissements pour relancer sa production pétrolière, malgré un climat politique divisé.
Niger hardens its stance on energy sovereignty but avoids breaking with China National Petroleum Corporation, its main oil industry partner, in order to safeguard export revenues.
As Brent hovers near $60, growing opacity around OPEC’s output restrains a steeper decline in crude prices amid surplus warnings by the International Energy Agency.

All the latest energy news, all the time

Annual subscription

8.25$/month*

*billed annually at 99$/year for the first year then 149,00$/year ​

Unlimited access - Archives included - Pro invoice

Monthly subscription

Unlimited access • Archives included

5.2$/month*
then 14.90$ per month thereafter

*Prices shown are exclusive of VAT, which may vary according to your location or professional status.

Since 2021: 30,000 articles - +150 analyses/week.