Petrol News

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.
The government has increased unsubsidised oil prices, attributing the hike to “rising global oil prices” and to its effort “to narrow the wide gap with black market prices.” Damascus has also announced a new Iranian credit line for the purchase of oil supplies from Tehran.
Amid an acute economic crisis, the prices of commodities – including cereals, key food items, oil products, and COVID-19-related items – have soared last year compared with 2020, according to the World Food Programme’s Market Price Watch Bulletin for Syria. Despite the fact that the government has increased public sector salaries, the purchasing power of Syrians is nonetheless unable to keep pace with the rising cost of living.
Iran’s crude oil exports to Syria have remained stable for the third quarter in a row, at around 6.9 million barrels for the last three months of 2021. On a year-on-year basis, 2021 witnessed a 42.2 percent surge in Iranian oil shipments to Syria.
The Syrian Salvation Government has decided to price oil products sold in parts of the Idlib Governorate controlled by Hayat Tahrir Al-Sham in US dollars rather than Turkish liras amid the rapid collapse of the Turkish currency. Meanwhile, the Syrian government has increased the price of subsidised petrol sold via the smart card system by 46 percent, as supply shortages persist.
The economic crisis in Northwest Syria has been hit hard by Turkey’s economic crisis, in addition to the chronic crises already afflicting the country. The purchasing power of residents is at its lowest levels, sparking mass protests and prompting the leader of Hayat Tahrir Al-Sham, Abu Mohammad Al-Jolani, to meet with the Syrian Salvation Government's Shura Council to review the financial and bread crises.
While the Syrian government scales back subsidies on a wide range of commodities, President Bashar al-Assad has issued two decrees raising the salaries of civil servants and military personnel by 50 percent.