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[SITUATION] · [QUIET] · [BUSINESS]
2 clusters · 5 sources · 12 days · First seen · Last updated
Syrian energy production and fiscal performance
Overview
In the first half of 2026, Syria reported significant activity in its energy and fiscal sectors. The Ministry of Energy noted that crude oil production reached 14.8 million barrels, supported by the rehabilitation of petroleum centers and the reactivation of pumping groups. Efforts to restore infrastructure included repairing wells and returning the ‘Amrit’ offshore rig to service. To bolster the sector, the ministry signed several memoranda of understanding and contracts with global companies.
Concurrently, the Ministry of Finance reported record growth in both public revenues and expenditures for the same period. Total revenues reached approximately $2.7 billion, a 111% increase over the previous year, while spending rose to $3.7 billion, a 331% increase. This surge in spending was attributed to higher salaries, wages, and the rising cost of goods. The ministry noted that oil and gas revenues began being transferred to the treasury in May, and officials expect these revenues to help address a fiscal deficit of approximately $1 billion.
Entities
Timeline
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12 days ago
[BUSINESS] 3 sourcesSyria reports record revenue and spending growth in H1 2026Syria's Ministry of Finance reported $2.7 billion in revenues and $3.7 billion in spending for the first half of 2026, driven by wage increases and rising costs, resulting in a $1 billion deficit.
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23 days ago
[BUSINESS] 2 sourcesSyria reports 14.8 million barrels of oil production in H1 2026Syria's Ministry of Energy reported 14.8 million barrels of crude oil production in the first half of 2026, alongside significant natural gas output and infrastructure rehabilitation efforts.
Sources
alaraby.co.uk · albiladpress.com · eqtsad.net · sana.sy · syriadailynews.com