Syria’s Oil Future Still Hinges on Politics, Not Geology

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Chevron has signed a non-committal agreement with Syria's state oil company to evaluate offshore oil and gas potential, but no drilling commitment or production timeline is included, keeping Syria's oil output unchanged.

Market Impact

Market impact analysis based on neutral sentiment with 80% confidence.

Sentiment
Neutral
AI Confidence
80%
Time Horizon
Short Term

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Chevron has signed an MoU with Syria’s state oil company and a Qatari partner to evaluate offshore oil and gas potential in Syrian territorial waters in an agreement that covers data access and early-stage technical assessment only. It includes no drilling commitment, no development plan, and no production timeline. It does not alter Syria’s current oil output. It’s a tantalizing prospect. Syria’s coastline sits within the Levant Basin, the same petroleum system that delivered Tamar, Leviathan, and Karish offshore Israel.…

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Original article published by OilPrice.com on February 6, 2026.
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