15/09/2026 04:51 AST
Saudi technology company CASHIN and Syria's Ministry of Energy have agreed to develop a national digital platform for petroleum derivatives as Riyadh deepens economic and energy cooperation with Damascus.
The strategic partnership, signed in Damascus under the supervision of Saudi Arabia's Ministry of Energy, will create a unified system connecting operational and financial processes across Syria's petroleum derivatives supply chain, the Saudi Press Agency reported.
The platform will cover production, transportation, storage and distribution, as well as fuel stations and financial settlements. CASHIN will develop and operate the technology in partnership with the Syrian ministry.
The agreement also reflects Saudi Arabia's push to expand its technology capabilities into regional markets, with the partnership expected to facilitate the transfer of expertise and artificial intelligence- and automation-based solutions.
"The agreement aims to develop an integrated national digital platform for entities that connects relevant entities through a unified system covering production, transportation, storage, distribution, fuel stations, and financial settlement," the SPA report stated.
The signing was held under the patronage of Syrian Energy Minister Mohammed Al-Bashir and was attended by a Saudi Ministry of Energy delegation including Fuad Mosa, adviser to the minister and general supervisor of the International Projects Office, and Mohammed Al-Hamidi, general manager of the ministry's Oil and Gas Sector.
The system will use an end-to-end "field-to-bank" approach, linking physical operations with financial flows and consolidating data across the value chain. The aim is to improve efficiency, support planning and decision-making, and strengthen oversight and transparency in the movement of petroleum derivatives.
The deal adds to a series of Saudi-Syrian energy agreements as Damascus seeks to rebuild and expand its energy infrastructure.
In August, three power purchase agreements were signed in Damascus for solar projects with a combined generation capacity of 760 megawatts. The projects are paired with battery energy storage systems with a total capacity of 1,077 megawatt-hours.
The agreements were signed under the supervision of the Saudi Ministry of Energy and included technical cooperation with Saudi Electricity Project Development Co. and Siemens Energy.
The projects followed a July 2025 memorandum of understanding between Saudi Arabia and Syria covering cooperation in oil and gas, petrochemicals, electricity, electrical interconnection and renewable energy.
Arab News
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