Iran’s attacks on regional energy infrastructure have reached the Red Sea port of Yanbu, which has swiftly become one of the most important facilities for the continued export of oil from the Middle East while the Strait of Hormuz is closed. On 19 March, a drone caused damage to the Samref refinery in Yanbu, adjacent to the Yanbu North oil terminal, although loadings have continued.
Saudi Aramco aims to export up to 5mn b/d of crude oil from Yanbu North and the Yanbu South terminal around 20km down the coast, up from less than 1mn b/d prior to the conflict. If achieved, this equates to around 70% of Aramco’s pre-conflict crude oil exports, providing key volumes to a dangerously undersupplied market. (CONTINUED – 1089 WORDS)
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