Saudi Aramco has temporarily suspended
The official Saudi Press Agency said a "limited" fire broke out at the site after debris fell during the interception of two Iranian drones that were targeting the facility, reported Bloomberg. Authorities confirmed that the blaze was contained.
The episode marks an escalation on the third day of strikes across the region launched by Tehran in response to the US-Israeli attack on Iran that began on Feb. 28.
ALSO READ: US-Iran War: Saudi Aramco Halts Ras Tanura Refinery Operations After Drone Strike
Strategic Hub For Saudi Oil
Saudi Aramco's Ras Tanura facility is the company's oldest and one of its most technically advanced refineries. It has the capacity to process up to 550,000 barrels of crude oil and condensates each day. According to Reuters, the Ras Tanura complex, located along the kingdom's Gulf coast, is one of the Middle East's largest refineries. It also functions as a critical export terminal for Saudi crude.
The refinery plays a vital role in supplying transport fuels, especially diesel, to international markets including Europe, while also producing smaller volumes of petrol. Near the refinery lies Aramco's largest crude export terminal, equipped with vast storage tanks, port berths and offshore loading facilities.
The refinery is integrated with the Ras Tanura Port, widely recognised as the world's largest crude oil export terminal. From here, Saudi oil shipments are dispatched to Asia, Europe and the United States, highlighting the site's importance not only to the kingdom but to global energy flows.
ALSO READ: US-Iran War: Video Shows Saudi Aramco's Ras Tanura Refinery Getting Hit; Oil Prices Jump
History Of Targeted Attacks
This is not the first time Ras Tanura has been in the crosshairs. In 2021, Yemen's Iran-aligned Houthi group claimed responsibility for an attempted strike on the facility, an incident that Riyadh described at the time as a failed assault on global energy security.
The latest disruption comes at a particularly sensitive moment for oil markets. Shipping activity through the Strait of Hormuz, a narrow waterway between Iran and Oman through which roughly one-fifth of global oil consumption passes, has slowed sharply after vessels were attacked near the area on March 1.
Brent crude futures jumped by about 10% on Monday, March 2, according to Reuters, reflecting mounting supply concerns.
Escalating Regional Conflict
Hostilities intensified over the weekend after the US and Israel launched strikes on Iran, prompting Tehran to retaliate with hundreds of missiles and drones aimed at targets across the region.
US President Donald Trump told The New York Times that the assault could continue for “four or five weeks,” signalling the potential for prolonged instability in the region.
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