A massive fire broke out at Kuwait’s Mina Al-Ahmadi refinery after Iranian drone attacks on Friday, as tensions continue to escalate in the region.
The refinery, which processes around 730,000 barrels of oil per day, was hit by multiple drones, causing significant damage and shutting down several units.
This attack comes a day after Iran targeted Qatar’s Ras Laffan natural gas complex, causing extensive damage and potentially costing $20 billion in lost revenue annually.
The Iranian strikes are part of a broader retaliation against Israeli attacks on its South Pars gas field, which is crucial for domestic energy supplies.
Israel has claimed that Iran’s missile production capabilities are severely impaired, but Iran’s Revolutionary Guards have vowed to continue production, stating there’s “no concern” in this regard.
The conflict has sent oil prices surging, with Brent crude around $108 and West Texas Intermediate at $94.
Energy analysts warn that sustained damage to Gulf infrastructure could lead to lasting economic shock and global energy crisis.
