The China National Petroleum Corporation (CNPC) is preparing to end its investments in Syria
After years of existence despite losses, the China National Petroleum Corporation (CNPC) is preparing to end its investments in Syria’s oil fields once and for all by 2027, a decision that carries broad political and economic implications.
According to informed sources, the Chinese state-owned giant, which is one of the world’s largest energy groups, is heading for a full withdrawal from Syria despite the government regaining control of the fields in the northeast.
This trend is driven by two main factors, as the increasing US pressure and escalating competition from Gulf and US companies, led by energy giant Chevron, which has already begun signing memorandums of understanding to develop the Syrian energy sector.
Strategic resilience with losses of $170 million throughout the years of conflict, CNPC maintained its presence in the Awda and Tishreen fields in the countryside of Hasakah, in a move that observers described as a strategic political decision rather than an economic one.
During this period, the CNPC incurred losses estimated at $170 million, but it has continued to be a symbol of Chinese support for Damascus in the most difficult of circumstances.
Analysts say the Chinese company’s withdrawal marks the end of Beijing’s mission of resilience in Syria’s energy sector, and opens the door to a new phase of economic power-sharing in the northeastern fields, especially as Gulf and US companies compete to invest in the reconstruction phase.
The oil fields in northeast Syria are considered one of the most important economic resources in the country and are controlled by the Syria Democratic Forces (SDF) with US support, further complicating the scene and putting the Syrian government in front of new challenges to regain full control of its oil wealth and attract alternative investments.
