The Syrian News Agency, SANA, reported that the signing ceremony took place at the headquarters of the Ministry of Energy in the capital, Damascus, where the agreement stipulates the establishment of the “Project Company,” which will undertake the tasks of developing and operating the digital platform designated for trading and governing oil derivatives.
The new digital system is scheduled to link the active parties in the sector, starting with the regulatory and supervisory authorities, passing through the operators of gas stations, transportation and distribution companies, and tankers, all the way to the storage and manufacturing stages, and ending with the final beneficiaries of individuals and the business sector.
While SANA did not reveal the financial value of the agreement or details of the partnership shares in the new company, nor did it specify a timetable for the start of operation, the Saudi “Cashion” company has specialized experience in providing technical solutions for managing gas stations, including pump management systems, payments, and inventory control.
This step comes in the context of the momentum witnessed in economic relations between Damascus and Riyadh since the beginning of 2026, as this period witnessed the signing of a series of investment packages and joint understandings that included vital sectors such as infrastructure, aviation, communications, water, and real estate development.
