RIYADH: Saudi Arabia on Sunday delivered the first shipment of its crude oil grant to Syria, with a tanker carrying about 650,000 barrels docking at the port of Baniyas, the Saudi Press Agency reported on Monday.
The consignment marks the initial tranche of a 1.65 million-barrel grant announced earlier this year as part of the Kingdom’s efforts to support the Syrian Arab Republic’s energy sector.
The grant agreement was signed on Sept. 11 between Saudi Arabia, represented by the SFD, and Syria’s Ministry of Energy.
The delivery was made in line with the directives of the Saudi leadership and reflects the Kingdom’s commitment to assisting Syria, the Saudi Fund for Development said.
Implemented under the supervision of the Saudi Ministry of Energy, the scheme is designed to boost the operation of Syrian refineries, enhance efficiency and financial sustainability, and strengthen economic development, SPA added.
