US EditionIran war puts at risk key pipelines, terminals and refineries that supply the world with oil and gas
Production at Iraq’s southern fields dropped 70%, Qatar halted LNG exports, and the Strait of Hormuz remains closed, disrupting 20% of global oil and gas supplies.
- This past week, the Iran war has put pipelines, refineries and shipping terminals at risk, leading state-owned QatarEnergy to shut a terminal and Iraq to suspend 1.5 million barrels per day at Rumaila and West Qurna.
- Analysts say Iran aimed at oil storage and reroute points like Fujairah oil terminal, United Arab Emirates and Kharg Island, Iran, forcing shutdowns and hitting pipelines that avoid the Strait of Hormuz.
- At Saudi Aramco’s Ras Tanura, the port and refinery, operations were temporarily halted after a drone caused a fire, while Brent crude rose from $72.97 to almost $103 on Monday.
- Restart timelines indicate that Iraq and other Gulf oil fields have cut output as onshore storage fills, and experts warn some facilities will take weeks or months to resume, industry analysts including Torbjorn Soltvedt said.
- The Strait of Hormuz matters because it is effectively closed to some traffic and channels about 20% of global oil and LNG, while Al Basra Oil Terminal, Iraq exports oil worth 80% of Iraq’s GDP.
45 Articles
45 Articles
An ever-widening war in Iran has interrupted the navigation of oil vessels, turned refineries into military targets and caused fear among investors concerned about the cascade effect of a rise in energy prices.
Svenska Dagbladet
AftonbladetOil prices are soaring, the Strait of Hormuz is being cut off, and the US is firing off anti-aircraft missiles at a furious pace. One player has a lot to gain from the war in Iran. In the eye of the storm, Russia is sitting back and picking low-hanging fruit.
Iran war puts at risk key pipelines, terminals and refineries that supply the world with oil and gas - American Press
The Iran war has put at risk some of the world’s most critical oil and gas infrastructure — the pipelines, refineries, and shipping terminals that keep energy flowing from the countries around the Persian Gulf to the global economy. Strikes by Iranian drones have disrupted operations, while risk of Iranian strikes has effectively closed the Strait of Hormuz, the conduit for some 20% of the world’s oil and liquefied natural gas. Oil fields in cou…
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