Social media reports and news outlets recently alleged corruption and embezzlement amounting to roughly $110 million within the Syrian Petroleum Company. The Central Authority for Inspection and Control (CAIC) responded to these claims by clarifying that a $104 million figure corresponds to a precautionary asset freeze on contracting firms, rather than stolen funds. On 26 September, the Syrian Petroleum Company issued a statement rejecting claims that money had been stolen or lost from its accounts. An informed source familiar with the file stated: "The figures cited in media coverage should not be treated as a definitive loss to the state before investigations are concluded and documents, books, quantities and executed works are fully audited."
Ongoing Audit and Clarifications
Amer Al-Ali, head of the Central Authority for Inspection and Control, confirmed on 29 September that an audit of oil-sector contracts was ongoing. The review aims to verify the accuracy of financial records across the Syrian Petroleum Company. One day earlier, on 28 September, CEO Youssef Kablawi issued a video apology. This statement followed public criticism of his remarks regarding the reaction of the population on social media. The apology addressed his recent commentary while the company faces scrutiny over its contractual processes and financial transparency. Auditors continue to examine documentation related to the Syrian Petroleum Company to resolve discrepancies reported in public discourse. The investigation remains active as authorities work to clarify the status of these agreements.
Contracting Firms Under Scrutiny
Local sources identified Star Petronova, Golcon, and Ta’zeez as the contracting firms linked to the disputed agreements currently under investigation. These companies remain at the center of the ongoing inquiry into the Syrian Petroleum Company, as authorities review their specific contractual obligations and performance records.
The Central Authority for Inspection and Control reported additional findings regarding the broader oil sector in August. These findings focused on identified procedural violations within the Deir ez-Zor fields. The Central Authority for Inspection and Control estimated that these specific violations resulted in damages to public funds totaling approximately $28 million. Auditors are now comparing these findings against the broader financial documentation related to the Syrian Petroleum Company to determine if these procedural gaps correlate with the contracts held by Star Petronova, Golcon, and Ta’zeez.