The CEO of the Syrian Petroleum Company, Youssef Qablawi, revealed that the current Homs refinery is slated for closure, with a new refinery to be built 51 kilometers away.
Qablawi expected the new refinery to meet local market needs and provide exportable quantities, noting that the current Homs refinery site will be converted into an integrated service and residential zone that includes hospitals, schools, and public facilities.
The new refinery aims to bolster national infrastructure and secure additional volumes of petroleum products for the domestic market and for export.
Qablawi’s remarks came on the sidelines of the International Petroleum and Energy Exhibition in Damascus, on the evening of Tuesday, November 11, which Enab Baladi attended.
He said there has been tangible progress in talks with major global energy companies and the opening of a new page with the American company Chevron.
ConocoPhillips is also preparing to sign significant investment contracts in Syria, he added, explaining that this strategy focuses on attracting only first-tier companies to invest in the country.
Qablawi said the Syrian Petroleum Company is currently carrying out major strategic projects, including rehabilitating and upgrading existing transport pipelines.
He added that the company was recently established with a future vision to become one of the world’s leading firms in oil, gas, and petrochemicals, similar to major international companies such as Saudi Aramco and QatarEnergy.
Chevron is a U.S. multinational energy company headquartered in San Ramon, California. Founded as one of the successor companies to Standard Oil, it is active in oil and natural gas exploration and production, as well as refining, transport, chemicals manufacturing, and power generation, and operates in more than 180 countries worldwide.
ConocoPhillips is a leading international American company in oil and natural gas exploration and production, headquartered in Houston, Texas. It was established in 2002 following the merger of Conoco and Phillips Petroleum, and is among the largest independent oil companies in the world, with operations in multiple international locations.
Syrian Petroleum Company
On October 2, Syria’s transitional president, Ahmad al-Sharaa, issued Decree No. 189 of 2025 establishing the Syrian Petroleum Company (SPC), headquartered in Damascus.
According to the decree published by the Syrian Arab News Agency (SANA), the newly created company is a public holding company with an economic character that enjoys legal personality and financial and administrative independence.
The company replaces the General Petroleum Corporation and its subsidiaries and the General Refining Corporation and its subsidiaries in all their rights and obligations wherever these are cited in texts, provisions, contracts, or agreements ratified by legislative instruments.
This includes all contracts, agreements, and financial, administrative, and technical rights and obligations.
Management of technical institutes and vocational schools, including their movable and immovable assets and facilities, remains under the supervision and administration of the ministry.
Company objectives and powers
Develop a professional investment environment based on efficiency, quality, and integration across all stages of investment between the company and its affiliates, in order to serve as the sector’s pioneering national arm. Enable good governance, transparency, and accountability in sector management in line with best international practices. Enter the global oil and gas markets and enhance competitiveness at the regional and international levels.The new company undertakes several tasks, most notably proposing strategies and plans related to exploration, development, and investment in oil and gas resources and submitting them to the ministry for approval. It also coordinates with the ministry on setting core principles and provisions, updating agreements, and announcing areas prepared for oil and gas investment and development to attract domestic and international investors.
It prepares and signs contracts related to exploration, development, marketing, and sector performance enhancement, and takes the necessary steps for their issuance and for monitoring implementation.
The company manages and operates oil and gas assets and facilities it owns or controls, including equipment, installations, and infrastructure, and submits periodic performance and efficiency reports to the ministry.
Syrian government moves to relocate the Homs refinery Enab Baladi.
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