The bidding documents are open, and the numbers are hard: daily processing of 210000 barrels, covering an area of 400 hectares, and 85% of the finished oil products must meet Euro 5 standards. This is the largest transaction in over a decade.

The Syrian oil company is in talks with multiple international energy companies regarding the Fulcrum refinery, valued at $6 billion to $8 billion, which will gradually replace the Homs refinery upon completion. The bidding invitation has been issued in June 2026, requiring the submission of financing, construction, and long-term operation plans under the BOT model. The bidding documents specify that the project reserves space for petrochemical expansion and requires 100 megawatts of self provided power generation. The final investment amount depends on whether the core equipment comes from the United States, Europe, or China, and the development and construction period is about four years.Editor/Min Jing