Mohammed al-Bashir: Syria Needs $831 Million Monthly to Purchase Crude Oil and Petroleum Products

ARK News.. Syrian Energy Minister Mohammed al-Bashir said Syria needs $831 million per month to purchase crude oil and petroleum products, noting that securing foreign currency remains one of the major challenges facing the ministry.

According to SANA, al-Bashir made the remarks during a hearing session before the Syrian People’s Assembly on the state of petroleum products and the recent increase in their prices.

Al-Bashir said the Ministry of Energy had inherited a heavy legacy from the former regime, adding that the ministry was aware of the scale of the challenges facing Syria’s energy sector and the resources currently available to address them.

“Our vision at the Ministry of Energy is to build a sustainable energy sector and a resilient energy security system that supports economic development and improves quality of life,” he said.

The minister explained that establishing holding companies did not mean the privatization of the energy sector, stressing that all companies affiliated with the ministry remain state-owned.

He said efforts were underway to restore oil fields and rehabilitate oil-production infrastructure, noting that Syria has 78 oil fields.

Oil and Gas Production

Al-Bashir said Syria previously produced around 140,000 barrels of oil per day, although production levels depend on the condition of individual wells.

He said a committee had been established to assess oil reserves and prepare a new oil and gas map, while several oil wells had been temporarily shut down for rehabilitation and eventual restart to ensure public safety.

Regarding natural gas, al-Bashir said production had previously stood at around 6 million cubic meters per day, while Syria’s needs amount to approximately 24 million cubic meters. Current production has risen to around 8 million cubic meters per day, with additional wells being drilled to increase output.

The minister said the energy sector faces major challenges, including the lack of reliable databases, securing crude oil and spare parts, and obtaining the foreign currency needed for purchases.

He noted that the number of vehicles in Syria had increased from around 2.5 million to 3.6 million, resulting in a significant rise in fuel demand.

Syria currently has a refining capacity of about 150,000 barrels per day and imports petroleum products at a rate of around 150,000 barrels per day, he said.

Al-Bashir said domestic oil production currently stands at approximately 112,000 barrels per day, leaving a gap of about 200,000 barrels per day that must be covered through imports.

He added that Syria currently purchases around 6.3 million cubic meters of gas per day, costing approximately $140 million per month, from Azerbaijan and from a vessel stationed at Jordan’s Port of Aqaba.

Foreign Currency and Arab Gas Pipeline

Al-Bashir identified securing foreign currency to purchase petroleum products as one of the ministry’s main challenges. He said Syria was moving toward agreements with friendly oil-producing countries until it can achieve greater self-sufficiency.

He also said the ministry had requested price offers to complete the Arab Gas Pipeline section coming from Jordan. The project is currently under implementation and is expected to cost around $250 million, with the Syrian Petroleum Company covering the cost.

“Syria needs $831 million per month to purchase crude oil and petroleum products,” al-Bashir said, adding that the ministry sometimes resorts to negotiated contracts amid the global crisis affecting the energy sector.

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