Syria Seeks to Become Regional Oil Hub
"We view this stage not only as a recovery for what we have lost, but also as an opportunity to redefine Syria's position as an active partner and a vital regional hub contributing to regional and international energy security," Energy Minister Mohammed al-Bashir told the Atlantic Council Global Energy Forum in Washington, D.C.
Acknowledging the devastating toll of 14 years of civil war on the country's energy infrastructure, al-Bashir said Syria is now "moving towards reconstruction, economic openness, and the strengthening of international partnerships." He described the energy sector as a "key gateway" to broader international re-engagement, announcing strategic alliances forged in recent months with global giants including Chevron, ConocoPhillips, HKN Energy, GE, TotalEnergies, Simmons, and Ansaldo, with advanced negotiations ongoing with Italian and other European firms.
The minister also unveiled a $7 billion investment agreement with Qatar's UCC Holding and its partners, covering electricity, infrastructure, and renewable energy, alongside additional deals with Turkish and Gulf companies.
"Syria's doors are open to responsible investment and long-term partnerships," he said.
Syria's diplomatic rehabilitation has accelerated since opposition forces led by Ahmad al-Sharaa toppled President Bashar al-Assad's government on Dec. 8, 2024, ending more than two decades of his grip on power. A transitional administration under President al-Sharaa was formally constituted in January 2025. The US, European Union, and UK have since lifted sanctions on Syria, including those targeting its energy sector, clearing the path for foreign investment and economic reconstruction.
— Kirkuk-Baniyas Pipeline Revival —
The strategic opportunity for Syria has been sharpened further by the ongoing US-Israeli war on Iran and the resulting disruption to global shipping through the Strait of Hormuz, according to Syrian Petroleum Company CEO Youssef Qablawi.
"The war which has happened now in the Gulf area and Hormuz gives us that chance and opportunity to be the hub or exported land for Iraqi fuel oil and oil," he said.
Qablawi outlined an ambitious plan to reconstruct the Kirkuk-Baniyas pipeline — a roughly 1,200-kilometer (745-mile) artery stretching from the oil-rich Kirkuk region in Iraq to Syria's Mediterranean port of Baniyas. He confirmed the proposal had been discussed directly with US Energy Secretary Chris Wright and carries Washington's backing.
Looking ahead, Qablawi projected that Syrian oil production would stabilize further by the close of 2026, with output potentially reaching 1 million barrels per day by 2030.
The announcements land at a critical moment for global energy markets. Shipping traffic through the Strait of Hormuz — through which approximately 20 million barrels of oil, or roughly 20% of the world's daily petroleum supply, normally flow — has fallen sharply since the outbreak of the US-Israeli conflict with Iran, driving up shipping and insurance costs, inflating oil prices, and stoking fears of broader economic fallout.
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