Iran Attacks On Key Oil Fields Of Saudi And Qatar
Internet/Hyderabad, Mar 19 (Maxim News): Iran is carrying out airstrikes targeting oil storage facilities in Gulf countries. Iran, which has already attacked oil storage facilities in the UAE and Qatar, recently attacked oil refineries belonging to Saudi Aramco at the Red Sea port of Yanbu, the main city of Saudi Arabia. However, Aramco representatives said that there was no major damage in this attack. Iran is attacking Gulf countries in response to Israeli and American attacks.
It is carrying out missile attacks, especially targeting oil storage facilities and refineries there. It attacked the world’s largest LNG (liquefied refinery gas) refinery plant in Qatar, Rus Laffan. This has stopped production here. In the wake of the already closed Strait of Hormuz and the halt in oil transport, the attacks on oil facilities in the Gulf are now disturbing the world even more.
Especially if gas production decreases, many countries will face further crises. Due to the lack of proper oil supply, the international price of crude oil has reached $110 per barrel. Now, attacks on Gulf facilities and the cessation of oil production there will cause further problems for oil supply.
Huge Impact On India
This impact will be significant on India as well. We buy 50 percent of our oil from international markets. We buy 20 percent of our LNG from Qatar. If production and transportation from there decreases, it will have a severe impact on India. Especially the industrial sector and power generation will suffer a setback. Currently, India consumes 189 million metric standard cubic meters (MMSCMD) per day. Of this, only 97.5 MMSCMD is produced in India. (Maxim News)
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