Qatar stops LNG production, Saudi Aramco closes the Ras Tanura refinery after a drone attack

3 minutes of readingNew DelhiUpdated: Mar 2, 2026 06:46 pm IST

In the middle of the climb War between the United States and Israel against IranQatar stopped production of liquefied natural gas and Saudi Arabia closed its largest domestic oil refinery. The incident occurred after a drone attack and is a precautionary measure taken at all oil and gas facilities in the Middle East.

Aside from that, oil production has stopped in Iraqi Kurdistan and several major Israeli gas fields, crippling exports to Egypt. Tensions continued to rise on the third day of conflict with explosions rocking Tehran and Iran attacking US assets in the Gulf.

As the conflict virtually paralyzed shipping in the Strait of Hormuzthrough which one fifth of the world’s oil supply flows, Oil prices rose 13% to exceed $82 a barrel.the highest since January of last year.

Saudi Aramco closes Ras Tanura refinery

Saudi Arabia’s state oil giant Aramco’s Ras Tanura refinery was shut down as a precaution. The refinery is part of an energy complex on the Gulf coast and acts as a crucial export terminal for Saudi crude oil.

Iraqi Kurdistan oil companies stop production

Companies such as DNO, Gulf Keystone Petroleum, Dana Gas and HKN Energy have stopped production as a precautionary measure in Iraqi Kurdistan. The companies used to export 200,000 barrels per day (bpd) of oil via pipeline to the Turkish port of Ceyhan in February this year.

Leviathan gas field closed in Israel

Meanwhile, in Israel, Benjamin Netanyahu’s government has ordered Chevron to temporarily shut down the giant Leviathan gas field. As part of its $35 billion export deal to Egypt, the gas field is in the process of increasing its capacity to around 21 billion cubic meters a year. A spokesman for Chevron, which also operates the Tamar gas field off the coast of Israel, told Reuters its facilities were safe.

Two days ago explosions were heard on Iran’s Kharg Island, which processes 90% of Iran’s crude oil exports, raising concerns. It is still unknown how the facilities were affected. Qatar said an energy facility belonging to gas giant Qatar Energy was attacked by two Iranian drones on Monday, and authorities are still assessing the damage.

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Iran, the third-largest producer in the Organization of the Petroleum Exporting Countries, pumps about 4.5% of the world’s oil supply. Iran’s production is about 3.3 million barrels per day of crude oil, plus 1.3 million bpd of condensate and other liquids.

With contributions from Reuters

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