How global energy security is being reshaped amid US-Israel and Iran attacks

About this episode

The episode discusses the impact of recent US-Israel attacks on Iran and the subsequent escalation affecting global energy markets.

Missiles are flying overhead and being intercepted in the Gulf region. Days after the US and Israel attacked Iran, it fired back, sending waves of ballistic missiles and drones towards Israeli and US targets, including assets in the Gulf. The escalation quickly spread to regional energy infrastructure. Saudi Aramco’s Ras Tanura refinery halted operations of its 550,000-barrels-per-day production, after reported drone strikes. The Mina Al Ahmadi refinery in Kuwait, with a capacity of around 346,000 bpd, was reportedly hit by debris. Qatar faced blows that led to a complete halt of LNG production, affecting 20 per cent of the world’s supply, with implications for Europe’s energy security and ripple effects across Asia. Ports have also been struck. The UAE’s Jebel Ali was targeted and Duqm in Oman was hit by drones, underscoring vulnerability even outside the Strait of Hormuz, the world’s most contentious chokepoint and a passageway for about 20 per cent of global oil. In this episode of Business Extra, host Salim Essaid looks at how quickly global energy markets are reacting and what wider repercussions could follow if assaults continue. He is joined by The National’s Jennifer…

People in this episode

Guests: Jennifer Gnana, Robin Mills

Topics covered

• global energy security
• US-Israel relations
• Iran attacks
• energy infrastructure
• Gulf region

Keywords

• missiles
• ballistic missiles
• drone strikes
• energy markets
• LNG production

Mentioned in this episode

Products: Saudi Aramco, Mina Al Ahmadi refinery, Qatar LNG

Places: US, Israel, Iran, Gulf, Kuwait, Qatar, Europe, Asia, UAE, Oman

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