Syrian President Ahmed al-Sharaa, during the transitional phase, issued Decree No. 189 of 2025 establishing the Syrian Petroleum Company (SPC), headquartered in Damascus.
According to the decree, published by the state-run Syrian Arab News Agency (SANA), the newly created entity is a public holding company with an economic character, possessing legal personality and financial and administrative independence.
The company replaces both the General Petroleum Corporation and its subsidiaries, as well as the General Refining Corporation and its subsidiaries, inheriting all rights and obligations stated in laws, contracts, or agreements ratified under legislative provisions. This includes financial, administrative, and technical commitments.
Management of technical institutes and vocational schools, along with their movable and immovable assets and facilities, remains under the supervision of the Ministry of Energy.
Objectives and powers of the company
The decree outlines several goals for the SPC, including:
Developing a professional investment environment based on efficiency, quality, and integration across all stages of the oil and gas value chain, positioning the company as the national leader in the sector.
Enabling good governance, transparency, and accountability in sector management in line with international best practices.
Entering global oil and gas markets and enhancing competitiveness regionally and internationally.
The company is tasked with proposing strategies and plans for exploration, development, and investment in oil and gas resources, to be submitted to the ministry for approval.
It also coordinates with the ministry on legal frameworks and agreements, announces investment opportunities, and works to attract local and international investors.
Furthermore, it prepares and signs contracts related to exploration, development, marketing, and sector efficiency improvement, follows up on their implementation, and manages oil and gas assets, facilities, and infrastructure under its ownership or operation.
The company must also provide periodic reports to the ministry on performance and efficiency.
Management structure
The company will be managed by a nine-member Board of Directors, chaired by the Minister of Energy and including the CEO, representatives of ministries and government bodies, and legal and energy experts appointed by decree.
The CEO, also appointed by decree, is the spending and liquidation authority, responsible to the board, and represents the company before courts and third parties.
The CEO oversees the execution of board decisions, implementation of policies and strategic plans, and supervision of administrative, operational, technical, and financial activities.
Responsibilities include preparing budget drafts, annual financial statements, final accounts, and risk management strategies, as well as developing internal control systems to ensure compliance with legal and accounting standards.
The CEO also monitors service contracts ratified by law, supervises affiliated and joint companies, and submits regular performance and compliance reports to the board.
Assets and finances
All movable and immovable assets, rights, contracts, and obligations of the replaced entities are transferred to SPC, except for certain facilities that remain under the Ministry of Energy, based on a list prepared by a joint committee and ratified by the minister.
The decree mandates a committee to evaluate transferred assets and liabilities.
The company’s founding capital will be determined within one year of registration, based on the committee’s audited valuation and ministerial approval.
SPC’s revenues will come from:
Profits from its activities and subsidiaries.
Domestic and foreign loans secured by company assets or approved guarantees.
Grants and financial or in-kind contributions accepted by the board in line with laws and regulations.
State contributions in the form of cash support for company activities.
Statutory reserves allocated under company bylaws.
The decree also exempts SPC from all taxes and fees, and stipulates that no shares may be offered for public subscription without a special law.
As part of transitional provisions, employees and contractors from the replaced entities are automatically transferred to the new company, maintaining their grades and acquired rights, with future promotions and appointments considered.
Broader restructuring
This decree marks a new step in restructuring Syria’s oil and gas sector under a unified body overseeing all operational and investment activities.
Previously, President al-Sharaa had announced the merger of three ministries, Electricity, Petroleum and Mineral Resources, and Water Resources, into a single Ministry of Energy in March.
In early September, he also established the General Electricity Generation Company in Deir Ali (southern Damascus), with legal personality and financial and administrative independence.
Al-Sharaa establishes the Syrian Petroleum Company Enab Baladi.
Hence then, the article about al sharaa establishes the syrian petroleum company was published today ( ) and is available on ُEnabbaladi ( Syria ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
Read More Details
Finally We wish PressBee provided you with enough information of ( Al-Sharaa establishes the Syrian Petroleum Company )
Also on site :
- Gold Star Distribution Inc., Issues Recall of Certain FDA-Regulated Products in Three States Including Drugs, Devices, Cosmetics, Human Foods, and Pet Foods
- ’Beverly Hills, 90210’s Jason Priestley Shares Bold Callout After ‘Worst’ Travel Experience
- Tyler Perry Sued for Sexual Assault By New Accuser, an Actor in a ‘Madea’ Movie