According to a statement from the Syrian Ministry of Energy, Damascus today dispatched a shipment of about 600,000 barrels of "heavy" oil from the port of Tartus. This is the first oil export from Syria in years.
According to the Damascus regime, additional oil shipments will be made in the near future.
The resumption of exports comes against the backdrop of the lifting of Western sanctions, which gave a renewed boost to the energy industry after more than a decade of war. The exports also provide Syria with a critical stream of foreign currency income so desperately needed by the Syrian economy. Additionally, it sends a message to investors that Syria is ready for cooperation with foreign companies and new energy projects.
It should be noted that before the war that broke out in 2011, Syria produced hundreds of thousands of barrels per day, with export peaks reaching about 380,000 barrels per day in 2002. Since then, production has plummeted to almost zero.