A warming relationship between US President Donald Trump and Syrian President Ahmed al-Sharaa may be starting to translate into real economic consequences.
Reports from Damascus point to an unusual and potentially far-reaching move: a comprehensive review of all oil and gas contracts with foreign companies. According to the reports, some contracts could be canceled outright, while others may be renegotiated from scratch. At the same time, Syrian officials are openly courting American energy companies to enter oil and gas fields that have recently returned to government control.
Senior figures in Syria’s energy sector reportedly speak of growing American interest, including explicit references to Chevron in the context of possible gas investments in the al-Hasakah region. That alone is striking, given the long years in which US companies were entirely absent from Syria’s energy landscape.
Why does this matter? Before the outbreak of the civil war in 2011, Syria produced more than 400,000 barrels of oil per day. Today, official figures place production at under 100,000 barrels per day. The gap reflects not only physical damage and years of sanctions, but also a lack of investment, technology, and access to global markets.
