Saudi Aramco has shut down operations at its Ras Tanura refinery after a fire broke out following a reported drone attack.
The incident has led to a temporary halt in loadings at the refinery, which handles 550,000 barrels per day, marking the second such disruption to Aramco’s facilities in recent days.
Aramco was not immediately available for comment. Bloomberg and Reuters reported the refinery was shut down after the attack, which occurred during drone and missile attacks by Iran against its Gulf neighbours.
Ras Tanura, located along the Gulf coast, hosts one of the world’s largest oil export terminals and a major refining facility. The port handles a significant share of Saudi crude exports, with cargoes typically heading to key markets in Europe and Asia, including China, Japan and South Korea.
Brent, the benchmark for two thirds of the world's seaborne crude, surged close to $80 per barrel and was trading at $79.56 per barrel at 11.51am UAE time.
The refinery and export terminal process and ship crude sourced from some of the kingdom’s largest fields, including Ghawar, the world’s largest conventional oilfield. It also sources crude from Abqaiq and Khurais, which were targeted in 2019, leading to a temporary halving of Saudi Arabia’s crude output and resulting in the biggest surge in oil prices since the Gulf War in 1990.
The attack on Ras Tanura would mark the first Iranian strike on the Gulf’s energy infrastructure. The Eastern Province contains a dense concentration of upstream infrastructure, including refineries, pipelines and processing centres for crude and gas.
The halt at Ras Tanura follows an operational disruption last week at the Juaymah liquefied petroleum gas facility, which also affected exports. The Juaymah terminal, near the Jafurah gasfield and Ras Tanura refinery, is one of the world's largest exporters of natural gas liquids.
