The Syrian government, which is largely isolated from western countries, continues to try to build economic ties with other countries, although, six years after the beginning of the uprising, the impact of these efforts is hardly successful.
Oil supplies are resuming across Syria after weeks of severe shortages, although the economic and political consequences will likely be felt for a long time.
The suspension of Iranian supplies of oil products is forcing the Syrian government to import large volumes from other countries and to open import trade to the private sector as severe shortages impact most of the country.
China is providing a grant to the Syrian government, the first such known deal since the beginning of the uprising.
Syria’s Prime Minister has said that no country other than Iran has provided any help to his country.
Iran has granted a new credit facility to Syria, although its amount is well below the expectations of the Syrian authorities.
Syria remained largely dependent on Iran for its oil imports last year, a statement by a government official indicates.
The signing today of several economic agreements in Tehran has confirmed the heavy price Syria is paying for the support of Iran to the Syrian regime, including the transfer of phosphate mines and a maritime port to Iranian companies in addition to the control by the Revolutionary Guards of a Syrian mobile phone license.
An important Iraqi business delegation was in Damascus this week to bolster bilateral ties which are hindered by the lack of a land border crossing and obstacles to banking transactions.
Syrianair, the state-owned carrier, has rented a 20-year old Airbus plane from Iran’s Mahan Air to increase the size of its fleet that had fallen to a single aircraft.
The Ministry of Petroleum has announced the inauguration of a new gas well as it keeps investing in the oil and gas fields under its control in order to reduce the shortages of energy supplies in the market.
The list of cabinet members appointed by Bashar Al-Assad on July 03, 2016.
Updated on July 05: A new Government was formed in Syria on Sunday, the first in two years.
Syria’s electricity sector will require investments of EUR 7 billion in the next five years to recover, according to the Minister of Electricity.
The takeover of Palmyra by Syrian Government forces is likely to improve the latter's access to gas and phosphate resources.
The Syrian Minister of Electricity has met with executives from various international engineering companies to explore opportunities in the Syrian electricity sector.
Syria has reportedly signed several new contracts to purchase electrical equipment from Iran.
A delegation from China’s SinoHydro visited Damascus this week to discuss the potential development of power projects in Syria.
Syria’s production of electricity is less than 25 percent of its level prior to the beginning of the uprising, according to the Minister of Electricity.
A Russian company is bidding for the construction of a new 600 MW power plant in Syria, according to the local media.
Two turbines at a large power plant north of Damascus stopped functioning last week following a mortar attack leading to a severe increase in power outages in the Syrian capital.
Syria’s Baath Party has announced the election of a new regional command, which is formally the executive branch of the party in Syria.
The lack of fuel oil is the main reason for the decline in the production of electricity, according to state officials.
The Syrian government has managed to procure spare parts and equipment from “friendly” countries to enhance its power sector, the Minister of Electricity has said.
The Syrian Minister of Electricity has said that 3,000 MW of power generation capacity is unused because of the damages inflicted on the country’s power grid.
Syria is planning to issue tenders for some 1,500 MW of new generating capacity in the coming months, the Minister of Electricity said.
A new government was formed in Syria on June 23 with the appointment of twenty new ministers and the establishment of five new ministries, including one for national reconciliation.
The European Union has added 12 persons, including the spouse of the Syrian President, and two companies to the list of people and institutions facing an asset freeze and a travel ban.
The Ministry of Electricity has announced that starting next week it will reduce blackouts in most parts of the country from an average of 12 hours a day currently to 6 hours, as temperatures rise again and the supply lines to power plants return to normal.
Power outages and attacks on the power distribution network have cost the Syrian economy an estimated SYP 23 billion, or around USD 400 million, according to the Minister of Electricity.
Updated January 08, 2011: An explosion targeted last week a gas pipeline near the city of Homs leading to the interruption of supplies to two power plants and adding to Syria’s electric supplies problems.
Updated November 21: Syria has awarded a EUR 19 million contract to France’s Alstom to build ten power transformers across the country, according to Al-Thawra, a local daily.
Demand for electricity rose 13 percent in the first 10 days of November compared to the same period of last year as a growing number of households are switching to electricity from gas oil for their heating, according to Imad Khamis, the Minister of Electricity.
Syria had a positive electricity trade balance in the first nine months of this year, according to the Minister of Electricity.
Syria’s power utility, PEEGT, has awarded a contract to Germany’s Siemens for the construction of a 350MW power plant north of Damascus; a deal the German firm says it was bound to conclude.
PEEGT has re-issued a tender for the provision of consultancy services to supervise the construction of a 724 MW CCP plant in Deir-ez-Zor.
Works on the 724MW Deir-ez-Zor CCP plant will start in August, the Minister of Electricity said.
Syria will need to import every year some 46 million tons of oil equivalent products in 2030, which will cost some USD 40 billion at current market prices, should the growth in demand continue at its current pace, Imad Khamis, the Minister of Electricity, said.
Syria's newly appointed Government sees the arrival of 14 new figures while the ministers of defence, foreign affairs, petroleum and telecommunications all keep their portfolios.