- Qatari Interior Ministry: The security threat level is high, and everyone must adhere to staying in homes and safe places
- Foreign ministry: Iran targeting it is “irresponsible approach”
- Ras Laffan attack is “direct threat” to its national security
There are videos now showing two strikes on Ras Laffan. There are two fires but keep in mind that Ras Laffan is truly a mind-bogglingly large complex. It covers 256 sq kilometers with the port facilities alone covering 56 sq km. The stated target was the Exxon-owned (partly at 10%) refinery in the complex but even it is a very large facility.
It’s a condensate refinery processing 300,000-400,000 barrels per day (the combined LR1 and LR2 capacity) and would typically occupy somewhere in the range of 2–4 sq km
There are a few takeaways from the Iran strikes today:
- Their capabilities may not have been diminished as much as we’ve led to believe. They named four targets ahead of time and hit at least two of them already
- There is a fair chance this leads to more escalation. We will see if Israel/USA strike more of Iran’s energy infrastructure now
This is obviously a dangerous phase and stocks are at the lows with the S&P 500 down 1.2% now.
