Oil & Gas

Iran's crude oil exports to Syria appear to have remained high in the first quarter of 2023. Oil supplies in Q4, 2022 and Q1, 2023 were actually higher than in any quarter in the previous two-and-a-half years, which means that the reasons behind the shortages in previous months are still unclear. 
Iran may be putting harsher conditions on its supplies of crude oil to Syria. A recent report has suggested that Tehran has doubled the price at which it sells its oil and that it is now requiring Damascus to pay in cash; these two measures would have a significant fiscal impact on the Syrian government. The reasons behind this policy move are unclear.
The Syrian government has been seeking to increase phosphate production and export as it starts excavating a new mine near Palmyra and renews a barter deal with Belarus.
Syrian and Russian officials recently discussed joint energy projects at two events in Moscow and Damascus. Though little new information was revealed about the status of these projects, both officials acknowledged that they face difficulties.
Syria’s oil and gas sector has suffered indirect and direct losses totalling USD 107.10 billion from the start of the uprising in 2011 until mid-2022, according to the Ministry of Foreign Affairs and Expatriates. Meanwhile, the Ministry of Petroleum provided a breakdown of oil and gas production during the first half of the year
The government has recently launched the first phase of a country-wide GPS scheme that requires vehicle owners to install GPS devices or face exemption from the state’s oil subsidy programme. The controversial GPS surveillance system would enable the government to calculate the oil product needs of vehicle owners and surveil ordinary Syrians.
Although Iranian oil supplies to Syria have remained stable and a new Iranian credit line was activated in May, prices have not been curbed. The government recently increased the price of petrol by up to 127 percent, which has immediately impacted the cost of transportation and food.