- The Ruwais refinery in Abu Dhabi, UAE, one of the world’s largest, has shut down temporarily “as a precaution” after a nearby drone attack
- Aramco CEO Amin H. Nasser warned of “catastrophic consequences” on global oil markets if the Middle East conflict continue
- Nasser emphasised the urgent need to reopen the Strait of Hormuz to prevent further global economic consequences
One of the world’s largest refineries in the United Arab Emirates was temporarily shut down “as a precaution” following a nearby drone attack, a source told AFP.
State-owned Abu Dhabi National Oil Company (Adnoc) describes its Ruwais facility as “the world’s fourth-largest single-site refinery.”
Earlier, the Abu Dhabi Media Office reported that a drone strike sparked a fire in Ruwais Industrial City, though authorities and sources did not confirm whether the refinery itself had been directly hit.
A driver at the industrial complex described evacuating staff amid bursts of fire and explosions: “Just as we were about to leave, we saw two more bursts of fire rising from the complex, with loud sounds like explosions,” he said, requesting anonymity.
The incident comes amid escalating Middle East tensions, with Iran appearing to target major Gulf refineries while tightening its grip on the Strait of Hormuz, a critical waterway that normally carries about 20 per cent of global oil supplies.
Aramco CEO and President Amin H. Nasser highlighted the broader consequences of the disruption during a media call announcing the company’s 2025 earnings.
“The disruption has caused a severe chain reaction in not only shipping and insurance, but there’s also a drastic domino effect on aviation, agriculture, automotive and other industries.
“There would be catastrophic consequences for the world’s oil markets the longer the disruption goes on and the more drastic the consequences for the global economy,” he said.
Nasser also called for the reopening of the Strait of Hormuz, warning: “It’s absolutely critical that shipping resumes in the Strait of Hormuz.”
The Saudi energy giant has faced multiple attacks amid the ongoing Middle East war, including strikes on Aramco’s Ras Tanura refinery and several oil fields.
“While we have faced disruptions in the past, this one by far is the biggest crisis the region’s oil and gas industry has faced,” Nasser added.
The attacks have reverberated across the Gulf energy sector.
Robert Mogielnicki, a non-resident scholar at the Arab Gulf States Institute, said: “The Gulf energy sector is getting whacked from multiple angles. Energy facilities being targeted, export capability through the strait is hampered, and storage capacity is filling up.”
Iran’s actions have also affected other regional producers.
QatarEnergy, one of the world’s largest liquefied natural gas producers, recently halted production and declared force majeure, while energy producers in Kuwait have issued similar warnings.
Speaking on the risks of targeting energy infrastructure, Qatar’s Foreign Ministry spokesman Majed al-Ansari said, “Attacks on energy facilities on both sides are a dangerous precedent… it will cause repercussions throughout the world.”
Amid the turmoil, oil prices have been volatile, surging 30 per cent in a single day before retreating after US President Donald Trump suggested the conflict could soon end.
Aramco, meanwhile, reported a 12.1 per cent drop in net income for 2025 due to higher supply, US tariffs, and other economic headwinds. The company also announced its first-ever share buyback programme of up to $3 billion over 18 months.