Saudi Aramco Delivers First Diesel Cargo to Syria

en.Wedoany.com Reported - On October 19, the Syrian Petroleum Company commenced the unloading of the first Saudi Aramco diesel cargo at the Banias oil terminal in Tartus Governorate. The tanker "Starling" arrived carrying approximately 63,784 tons of diesel, marking the first cargo received by the Syrian Petroleum Company under the supply agreement signed with Saudi Aramco. The Syrian Petroleum Company stated that this cargo is a trial shipment, primarily intended to meet domestic refined oil product demand.

Under the supply arrangement reached between the two parties, Saudi Aramco's trading arm is responsible for supplying the goods. The Syrian Petroleum Company has thus launched the first import delivery under the agreement, with the Banias oil terminal handling tanker berthing, cargo discharge, and subsequent storage and transport operations. Jamil Wahoud, the Syrian Petroleum Company official responsible for tanker pilotage and berthing, confirmed that the terminal has begun the connection and unloading procedures for this cargo.

This import batch is settled via letter of credit. On October 11, the Central Bank of Syria announced that, in coordination with a major U.S. bank, it had completed the issuance of a letter of credit for the Syrian Petroleum Company's import of Saudi petroleum products. This marks the first time in 14 years that Syria has conducted settlement of such petroleum product imports through this mechanism. A Reuters report on October 20 further confirmed that JPMorgan was involved in the letter of credit transaction.

The total contract value, full supply volume, and delivery schedule for subsequent batches of this transaction have not yet been disclosed in official Syrian reports.