By: Economy middle east

Initial Delivery of Aid

The first shipment of a Saudi crude oil grant to Syria has been delivered, with a tanker carrying approximately 650,000 barrels docking at the Banias port. This delivery constitutes the initial part of a larger grant totaling 1.65 million barrels, as reported by the Saudi Press Agency. The action was executed following the directives of the Saudi leadership.

Formal Agreement and Objectives

The grant agreement was formally signed on September 11th between the Saudi Fund for Development and Syria's Ministry of Energy. Supervised by the Saudi Ministry of Energy, the aid is designed to enhance the operational efficiency and financial sustainability of Syrian refineries. Its broader aims are to strengthen economic development and support international Sustainable Development Goals.

A Foundation of Bilateral Ties

This energy support is framed as a reflection of the Kingdom's ongoing efforts to improve the living conditions of the Syrian people. The assistance is rooted in the strong and historic bilateral relations between the two nations and is intended to help Syria address significant economic challenges.

Expanding Renewable Cooperation

Beyond the crude oil grant, the two countries are strengthening energy ties through a series of major deals. Saudi firms Al-Harfi and SCLCO are set to develop 500 megawatts of renewable energy projects in Syria, while developer ACWA Power is conducting feasibility studies for solar and wind projects with a combined potential of 2,500 megawatts.

Comprehensive Sector Revitalization

The collaborative framework extends to upgrading Syria's electricity infrastructure, rehabilitating power plants, and stabilizing the national grid. The agreements also cover broader sectors like petroleum, oilfield services, and drilling, representing a comprehensive effort to revitalize Syria's energy industry, reduce its dependence on fossil fuels, and alleviate chronic electricity shortages.