Saudi Gazette report

RIYADH — The first shipment of Saudi Arabia’s grant to Syria’s energy sector arrived on Sunday with a tanker carrying approximately 650,000 barrels of Saudi crude oil docking at the port of Banias. This shipment represents the initial installment of the grant, which totals 1.65 million barrels of crude oil.

The delivery follows the directives of the Saudi leadership, underscoring the Kingdom’s commitment to supporting the Syrian Arab Republic.
The grant agreement was signed on September 11 between Saudi Arabia, represented by the Saudi Fund for Development, and Syria, represented by the Ministry of Energy.

The grant, implemented and monitored under the supervision of the Saudi Ministry of Energy, aims to enhance the operation of Syrian refineries, ensure operational efficiency and financial sustainability, strengthen economic development, address economic challenges, and promote the growth of vital sectors, contributing to both national and international efforts to achieve the Sustainable Development Goals.

The grant reflects Saudi Arabia’s ongoing efforts to improve the living conditions of the Syrian people, rooted in the strong and historic ties between the two countries.