Syria's Biggest Oil Refinery Halts Operations

Syria's largest oil refinery, Baniyas, has reportedly ceased operations due to the suspension of crude oil supplies from Iran, as reported by the Financial Times on Thursday. The refinery's general manager, Ibrahim Moussalem, revealed that the facility, which processes between 90,000 and 100,000 barrels of crude oil daily, last produced petrol on Friday and is now undergoing maintenance.

Before the deposition of former Syrian President Bashar al-Assad, around 90% of the country's crude supplies were sourced from Iran. The halt in operations underscores the significant impact of the current geopolitical situation on Syria's energy sector.

Sanctions and Future Prospects

Moussalem also disclosed that he has received information from members of Syria's new leadership suggesting that sanctions imposed on the country may be lifted. This development could potentially allow Syria to diversify its oil imports, sourcing from countries other than Iran. Additionally, it could enable the refinery to procure essential parts for its equipment, potentially reviving its operations.