Search Site

Trends banner

Luberef net profit falls 7% in Q1

A fall in by-products sales leads to profit dip.

SABIC net loss $322 million

The company's net profit was $66m in Q1 2024

PureHealth posts $137m Q1 net profit

The Group's revenue increased 8 percent YoY.

Borouge Q1 net profit $281 million

The total dividend paid to shareholders in 2024 $1.3bn.

Emirates expects first 777X delivery in H2 2026

Boeing had pushed back the first delivery to 2026 from 2025.

Damascus, Ankara agree natural gas deal for Syria

The 29th International Oil, Natural Gas, Refinery and Petrochemical Exhibition held within Iran Oil Show 2025 with the participation of more than 2 thousand local and foreign companies in Tehran, Iran on May 08, 2025. AFP
  • Syria's Islamist authorities, who toppled Bashar al-Assad in December, are seeking to rebuild the country's infrastructure
  • The conflict badly damaged Syria's power infrastructure, leading to cuts that can last for more than 20 hours a day

Damascus, Syria – Syrian Energy Minister Mohammad al-Bashir said Friday Damascus and Ankara had reached a deal for Turkey to supply natural gas to the war-torn country via a pipeline in the north.

“I agreed with my Turkish counterpart Alparslan Bayraktar on supplying Syria with six million cubic metres of natural gas a day through the Kilis-Aleppo pipeline,” Bashir said in a statement carried by state news agency SANA.Kilis is near Turkey’s border with Syria, which is north of the city of Aleppo.The deal will “contribute to increasing the hours of electricity provision and improve the energy situation in Syria,” Bashir added.

Syria’s Islamist authorities, who toppled Bashar al-Assad in December, are seeking to rebuild the country’s infrastructure and economy after almost 14 years of civil war.

The conflict badly damaged Syria’s power infrastructure, leading to cuts that can last for more than 20 hours a day.

Bayraktar told the private CNN-Turk broadcaster late Thursday that “we will provide natural gas to Syria from Kilis within the next three months.”

“This gas will be used in electricity generation at the natural gas power plant in Aleppo,” he said, confirming an expected daily flow of six million cubic metres.

In March, Qatar said it had begun funding gas supplies to Syria from Jordan in a move aimed at addressing electricity production shortages and improving infrastructure.

That announcement said the initiative was set to generate up to 400 megawatts of electricity daily in the first phase, with production capacity to gradually increase at the Deir Ali station southeast of Damascus.

Both Turkey and Qatar have close ties with Syria’s transitional government and were the first two countries to reopen their embassies in Damascus after Assad’s ouster.

Both have also urged the lifting of sanctions on Syria.

In January, Syria’s electricity chief said two power ships were being sent from Turkey and Qatar to increase supply after the United States eased sanctions, allowing fuel and electricity donations to Syria for six months.

Last month, Britain said it was lifting energy production sector sanctions, a move Damascus said would “directly contribute to improving” Syrians’ living conditions.