Israeli and US strikes on Iran led to the closure of important oil and gas facilities in the Middle East
For the third day, an exchange of strikes continues between Israel and the US on one side and Iran on the other. Against this backdrop, several oil and gas enterprises in the region were forced to cease operations, writes The Moscow Times.
Photo: Drew Irving
Saudi Arabia has temporarily closed the largest oil refinery, Ras Tanura, after a drone attack. This complex includes one of the most powerful refineries in the Middle East (about 550,000 barrels per day) and is a key export terminal for Saudi oil.
In Iraqi Kurdistan, companies extracting about 200,000 barrels of oil per day for export via the Turkish port of Ceyhan have suspended operations as a precautionary measure. There are no reports of damage, but extraction was stopped preventively.
Israel also ordered Chevron to temporarily halt production at the large offshore Leviathan field, where capacities are currently being expanded as part of a multi-billion dollar contract for gas supplies to Egypt.
In Iran, explosions were reported on Khark Island, through which the main part of Iranian oil exports passes. It is not yet known how badly the infrastructure was damaged.
Iran is the third-largest producer in OPEC. Its production is about 3.3 million barrels of oil per day, and together with condensate and other liquids, about 4.6 million barrels. This is approximately 4.5% of the world's oil supply.
Experts note that the attack on the Saudi Ras Tanura plant signifies a serious escalation of the conflict, as the energy infrastructure of the Persian Gulf countries has effectively come under threat. In their opinion, this could push Saudi Arabia and other states in the region to more active participation in military actions against Iran.
According to Saudi authorities, the situation at Ras Tanura is under control: two drones were intercepted, their debris caused a minor fire, and there were no casualties. Oil supplies to the domestic market are currently not disrupted. However, overall, the situation has heightened concerns about global supplies, as sea transport through the Strait of Hormuz has almost ceased after attacks on vessels.
Amid these events, the price of Brent crude oil rose by approximately 10% and exceeded $82 per barrel.