Syria Targets Oil Self-Sufficiency by 2028 Amid Growing Supply Gap
Syria aims to achieve oil self-sufficiency by 2028, according to Energy Minister Mohammad al-Bashir. The country currently produces around 112,000 barrels of oil per day but faces a supply gap of about 200,000 barrels that it covers through imports.
The minister told the People’s Assembly that Syria needs $831 million each month to purchase crude oil and petroleum products, with negotiated contracts sometimes being used due to global energy market pressures.
Al-Bashir said the government has a strategic plan in place to increase domestic production, and gas production is expected to reach satisfactory levels within seven years. Natural gas output currently stands at about 8 million cubic meters per day, compared to an estimated requirement of 24 million cubic meters.