TLDR
- Iranian military operations targeted Shell’s Pearl gas-to-liquids plant in Qatar and Saudi Arabia’s Samref refinery, co-owned by Exxon
- Crude oil surged 3% to reach $109 per barrel, with intraday peaks touching $120
- QatarEnergy confirmed significant damage to LNG processing infrastructure at Ras Laffan complex
- President Trump issued warning of retaliatory strikes against Iran’s South Pars facility if attacks continue
- Energy infrastructure in Kuwait, UAE, and Saudi Arabia experienced coordinated drone and missile assaults
A coordinated series of Iranian military strikes targeted critical energy infrastructure throughout the Middle East in the last 24 hours, with major facilities operated by Shell and Exxon Mobil sustaining damage.
Oil prices climbed approximately 3% to reach $109 per barrel in the aftermath of the attacks. Markets witnessed a brief surge to $120 before stabilizing. Exxon shares gained 1.2% during Thursday trading, while Shell experienced a 0.6% decline.
The Samref refinery complex in Yanbu, Saudi Arabia, was struck by drone weaponry. Saudi Aramco and Exxon jointly operate this facility with equal ownership shares, capable of refining 400,000 barrels daily.
Yanbu’s strategic position along the Red Sea coastline has elevated its importance as a vital petroleum export terminal. Following Iran’s blockade of the Strait of Hormuz and maritime attacks throughout the Persian Gulf, Saudi Arabia has redirected crude shipments via the East West Pipeline to Yanbu terminals.
Rystad Energy’s analyst Aditya Saraswat cautioned that any significant disruption at Yanbu could eliminate 5 to 6 million barrels daily from global markets, potentially driving prices toward $150 or beyond.
Saudi defensive systems successfully intercepted a ballistic missile targeting Yanbu. Damage evaluation at the Samref facility remains ongoing. Aramco refused to provide commentary while Exxon has yet to issue a response.
Shell’s Pearl Plant Hit in Qatar
Iranian missile strikes also impacted Ras Laffan Industrial City in Qatar, where Shell operates the world’s premier gas-to-liquids production facility—the Pearl plant. Shell confirmed that fires erupted at the Pearl complex but were rapidly contained. The facility has been secured in a “safe state,” according to company statements, with zero casualties.
Shell indicated it is collaborating with Qatari government officials and QatarEnergy for comprehensive damage evaluation.
QatarEnergy, ranking as the globe’s second-largest liquefied natural gas exporter, acknowledged “extensive damage” to LNG processing operations at Ras Laffan. All blazes were extinguished by early Thursday morning, with no reported injuries.
Qatar’s annual LNG production reaches 77 million metric tons. Any prolonged disruption at Ras Laffan could significantly impact worldwide natural gas availability.
Trump Warns Iran
President Donald Trump issued a social media statement warning Iran against further attacks on Qatari LNG infrastructure. He vowed to “massively blow up the entirety of the South Pars Gas Field” should additional strikes occur.
Trump revealed that Israel conducted operations against South Pars without advance notification to either the United States or Qatar. Qatar’s foreign ministry responded by expelling Iran’s security and military attachés within a 24-hour period, characterizing the Ras Laffan assault as a “direct threat” to the nation’s security.
In Kuwait, unmanned aerial vehicles targeted two major refineries—Mina al-Ahmadi and Mina Abdullah—igniting fires at both locations. The UAE temporarily suspended operations at Habshan gas processing facilities and the Bab oil field following successful missile interceptions. Neither country reported casualties.
Shell confirmed that damage assessment procedures at the Pearl facility continued as of Thursday.
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