Iran Targets Saudi Aramco-Exxon SAMREF Refinery In Yanbu, Briefly Disrupting Red Sea Oil Flows

Saudi refinery — Image for representation purposes only

Iran targeted the SAMREF refinery in Yanbu, Saudi Arabia, in an aerial attack on Thursday, March 19, 2026.

The refinery, owned by Saudi Aramco and Exxon Mobil, saw only limited damage, but crude oil loadings at the nearby Red Sea port were briefly stopped.

A drone struck the SAMREF refinery, while Saudi air defenses intercepted a ballistic missile heading toward the Yanbu port.

The refinery can process about 400,000 barrels of oil per day, making it an important part of Saudi Arabia’s energy system. This is the first time during the current conflict that a major oil facility on the Red Sea coast has been hit.

After the strike, Saudi Aramco paused crude loadings at Yanbu for a short time. Operations later resumed, but the disruption showed how exposed the route has become.

With the Strait of Hormuz blocked, Yanbu is now one of the main outlets for crude exports from the region. Normally, about 20% of the world’s oil passes through Hormuz, so its closure has already tightened supply.

The attack on Yanbu comes after Iran warned it would target energy facilities in Saudi Arabia, the UAE, and Qatar.

In recent days, missile strikes damaged Qatar’s Ras Laffan LNG site, and operations were halted at the UAE’s Habshan gas facility after a drone threat.

Fujairah, another key export port, has also faced repeated attacks, affecting operations.

Brent crude, diesel, and natural gas prices have all moved higher as supply risks grow. Saudi Arabia is now offering buyers the option to lift April cargoes from Yanbu, showing that it expects disruptions in the Gulf to continue.

Oil tankers are avoiding the Persian Gulf and taking longer routes, which is increasing freight costs and delays. Insurance premiums for vessels in the region are rising, and traffic is shifting toward the Red Sea.

References: Bloomberg, Reuters

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