Syrian energy ministry and Saudi firm Kashen sign deal to develop digital oil derivatives platform
Syria’s energy ministry and Saudi company Kashen have agreed to jointly develop a national digital platform for oil derivatives in Damascus.
The energy ministry of Syria and Saudi firm Kashen have entered into a strategic partnership to create a national digital platform for oil derivatives in Damascus. The Syrian Ministry of Energy announced the signing of the agreement in the capital, with the project to be overseen by the ministry and supported by a delegation from the Saudi Ministry of Energy.
The ceremony, held under the patronage of Syrian Minister of Energy Mohammed Al-Bashir, featured representatives from both nations, including Fouad Mousa, advisor to the Syrian Minister of Energy, and Mohammed Al-Humaidi, director general of the Petroleum and Gas Sector in Syria. The agreement aims to develop an integrated digital system that connects all parties involved in the oil derivatives sector, including production, transportation, storage, distribution, fuel stations, and financial settlements.
By linking operational processes with financial flows, the platform will provide a unified view of the value chain, improving planning, decision-making, oversight, and transparency in oil derivatives movement. Kashen will develop and operate the platform's technical solutions, utilizing its expertise in integrating operational and financial processes within comprehensive digital systems in the Saudi market.
This partnership is part of broader Saudi-Syrian cooperation in energy and digital transformation, demonstrating the potential for transferring AI- and automation-based solutions to new regional markets.
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