The Syrian Petroleum Company (SPC) has announced three international tenders to import diesel, gasoline and fuel oil, totaling 1.15 million metric tons, approximately 8.4 million barrels. The move aims to meet rising domestic demand for oil derivatives while ensuring the continued operation of power plants in the coming months.
The announcement comes as previously contracted shipments continue to arrive. The third shipment of 2026 reached Syria this week as part of a regular supply plan covering crude oil, domestic gas and refined petroleum products for local consumption.
Tender Details and Quantities
The diesel tender is the largest, covering 500,000 metric tons, about 3.65 million barrels. The volume is divided into five shipments of 100,000 tons each, scheduled to arrive at the Banias oil terminal at a rate of one shipment per month from April through August 2026.
The second tender covers 300,000 metric tons of 95-octane gasoline, equivalent to approximately 2.19 million barrels, to support the transportation sector. These quantities will also arrive in five shipments of 60,000 tons each during the same April–August 2026 period.
The third tender concerns fuel oil, a key input for electricity generation. It provides for the import of 350,000 metric tons, around 2.55 million barrels. Deliveries will take place in three phases: 50,000 tons in May, followed by two shipments of 150,000 tons each in June and July. The schedule is designed to stabilize the power grid and meet peak summer demand.
Pricing Mechanism and Payment Terms
For all three tenders, pricing will be linked to global Platts benchmarks. The final price will be calculated in US dollars based on the net quantity delivered to Banias storage tanks, using the average of five Platts quotations around the bill of lading date. The mechanism is intended to ensure transparency and reflect market fluctuations.
To attract major international suppliers, the company adopted a staggered payment structure for each shipment: 30% upon delivery, 30% after 15 days and 40% after 30 days. The required bank guarantees have been capped at $750,000 for diesel, $500,000 for gasoline and $300,000 for fuel oil.
Bid Submission Deadlines
The company called on interested firms to submit their bids to the Oil Marketing Office in Damascus within the specified deadlines. The gasoline tender closes on March 9, 2026, followed by diesel on March 10, 2026, and fuel oil on March 16, 2026.
