French Total CEO Sees Syria as Alternative Oil Transit Route

During an unprecedented visit by President Macron to Syria, Total's CEO, Patrick Pouyanné, addressed journalists stating that the current security situation does not yet allow for operations. He described his presence in Damascus as a positive initiative, shortly before two explosive devices detonated near Macron's residence in central Damascus.

Pouyanné characterized Syria as a country situated at a crossroads in the Middle East. He referenced recent events in the Strait of Hormuz amid the joint American-Israeli conflict with Iran, emphasizing that these developments have increased Syria's importance. He noted that it has become clear that investing in the Middle East requires finding alternative routes.

Following disruptions to navigation through the Strait of Hormuz, Iraq announced in early April the commencement of transporting oil by tankers through Syria as a preparatory step for exporting via alternative pathways. At the end of last month, Iraq and Syria discussed a project aimed at rehabilitating oil pipelines from Iraq to Syria, which have been inactive for decades.

In May 2026, Syria signed a memorandum of understanding with the American company ConocoPhillips, the French company Total Energies, and Qatar Energy to explore oil and gas in Syrian territorial waters.

Pouyanné confirmed that his company signed the memorandum of understanding but currently does not have any specific projects in Syria. He explained that his visit alongside the French president aims to meet with Syrian authorities and establish connections.

He also stressed that after thirteen years of civil war, it is necessary to allow the government time to extend its control over the country. He added that expectations should be moderate and patience is required.

During an economic forum held with Macron at the presidential palace, attended by heads of major French companies including Pouyanné, Syrian official Bassam al-Sharrah stated, "What we ask of you today is to build genuine and organic partnerships with the Syrian private sector. More importantly, we hope to move today from memoranda of understanding to executable contracts with specific timelines."