The Syrian Ministry of Energy has announced on Monday an international tender to purchase seven million barrels of light crude oil, acting through its Petroleum Marketing Department on behalf of the Banias Refinery Company.
According to tender documents, the oil must meet strict quality standards, including an API gravity between 32.0 and 36.0, specific gravity from 0.845 to 0.865, and sulfur content not exceeding 1.5 percent. The crude must also be compatible with the Banias Refinery’s existing processing systems.
According to the tinder deliveries are scheduled in three batches between December 1, 2025, and March 10, 2026:
3 million barrels between Dec. 5, 2025, and Jan. 15, 2026
3 million barrels between Jan. 16 and Mar. 2, 2026
1 million barrels between Mar. 3 and Mar. 15, 2026
Pricing will be tied to the Brent Dated (DTD) benchmark, as published by Platt’s Crude Oil Marketwire, with bidders offering a fixed premium or discount per barrel. Payments will be made in U.S. dollars after delivery to Banias, with installments of 30%, 30%, and 40% spread over 30 days.
The ministry set November 16, 2025, at 2:30 p.m. local time (11:30 a.m. UTC) as the deadline for submitting bids, with tenders to be opened the following morning. Each bidder must provide a $1 million performance bond from a Syrian bank covering the delivery period. Handwritten or late offers will not be accepted.
