Tehran Targets Gulf Energy Installations After South Pars Attack
Tehran has issued warnings to Gulf energy installations after oil industry facilities in southern Iran were attacked on March 18. The attacks, which targeted petrochemical facilities in South Pars and Asaluyeh, prompted Tehran to threaten strikes against major energy facilities in Saudi Arabia, the United Arab Emirates, and Qatar.
Oil prices surged by over 6% following the news, with Brent crude futures LCOc1 reaching a session high of nearly $110 per barrel. Analysts have warned that any attack on South Pars could lead to retaliatory strikes against Gulf energy facilities owned by oil majors in Qatar.
The Qatari foreign ministry spokesperson described the incident as a 'dangerous and irresponsible' escalation that threatens global energy security. Qatar has shut down its liquefied natural gas production, accounting for 20% of the world's LNG supplies, due to ongoing conflict. The cessation may extend beyond May if facilities are damaged.
The Iranian Revolutionary Guards have ordered evacuations from several major energy complexes in Saudi Arabia and the UAE, citing 'strikes' that will target these installations 'in the coming hours.'