Latest economic and financial news about Syria, currency markets, and regional economy updates.
Syria's state petroleum company denied any deal with AXP Energy after the firm announced a 25% stake in an onshore Block 9 production-sharing contract in the central Tadmor Basin, saying all oil and gas deals are announced only through official channels.
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Syria signed a contract with a Saudi manufacturer to supply and install 5 million prepaid smart water meters, with about 300,000 units due in 2026 in a phased modernization of the national water network.
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A 25-year contract with U.S. firm HKN to develop the Rmeilan oil fields in northeastern Syria splits output 60 percent to the company, 32 percent to the state oil firm, and 8 percent to a local services company.
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Authorities laid the foundation stone on 16 June 2026 for the Western Ring investment project in Aleppo, a roughly $70 million development spanning about 850,000 square meters and expected to create more than 3,000 jobs.
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An American energy company is preparing to sign a contract with Syria's state oil firm to develop existing gas fields and explore for new deposits, weeks after a broader memorandum on offshore exploration.
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Syria's customs authority issued Decision No. 59 on 15 June 2026, granting the vehicles of Syrians living in Turkey one fee-free entry per month at the Bab al-Hawa crossing, where a single-month permit otherwise costs $50.
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Syrian exporters must now register on the Iraqi ECOR platform and obtain an approved certificate before shipping any goods to Iraq, one of the country's largest markets for industrial, agricultural, and food products.
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Agriculture officials met in Damascus on 15 June 2026 to design a weekly reference price for broiler meat based on production costs, days after a national committee suspended imports of broiler and layer chicks to shield domestic producers.
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An international submarine cable linking Tartous to Alexandria was sabotaged near the Syrian coast on 15 June 2026, knocking a large share of international capacity offline and degrading internet service across most of Syria's governorates.
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Farmers in Hasakah had marketed 62,000 tons of wheat as of 15 June 2026, with first-grade grain bought at 5.5 million Syrian pounds a ton, as authorities target up to 1 million tons this season despite fuel shortages and strained storage.
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