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    MarketForces Africa » Global Market » Iran Strikes Saudi Aramco Ras Tanura Refinery, Hits Others

    Iran Strikes Saudi Aramco Ras Tanura Refinery, Hits Others

    Julius AlagbeBy Julius AlagbeMarch 2, 2026Updated:March 2, 2026 Global Market No Comments4 Mins Read
    Iran Strikes Saudi Aramco Ras Tanura Refinery, Hits Others
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    Iran Strikes Saudi Aramco Ras Tanura Refinery, Hits Others

    Iranian drones struck Saudi Arabia’s Ras Tanura refinery on Monday morning, while Kuwait reported intercepted attacks on day three of Iran’s retaliatory strikes on countries in the region.

    Saudi Arabia’s Ras Tanura oil refinery came under attack from Iranian drones, causing fire at the complex, authorities said. The incoming drones were intercepted, a Saudi military spokesperson said. Later on Monday, the oil refinery’s operations were temporarily halted as a precaution.

    “Some operational units at the refinery were shut down as a precautionary measure, without any impact on the supply of petroleum products to local markets,” an official source at the ministry said in a statement published by the Saudi Press Agency.

    Online videos from the site appeared to show thick black smoke rising after the attack. Even successfully intercepted drones cause debris that can spark fires and injure those on the ground.

    Ras Tanura, near Dammam, has a capacity of over half a million barrels of crude oil a day. Meanwhile, fire and smoke rose from inside the US embassy compound in Kuwait City on Monday morning, and an alarm was sounded after an Iranian attack.

    The embassy did not announce it had been hit, but issued a security alert urging people to stay away and to shelter in place. There were no immediate reports of damage or casualties. “There is a continuing threat of missile and UAV attacks over Kuwait. Do not come to the embassy,” the statement said.

    “US embassy personnel are sheltering in place,” it added. Kuwait’s interior ministry said it intercepted an unspecified number of drones targeting the small, oil-rich country at dawn.

    A US Air Force F-15E Fighter Eagle has crashed in northwest Kuwait on Monday morning. The cause of the crash remains unclear. Unconfirmed reports say the jet was downed in an apparent “friendly fire” exchange.

    Kuwait’s defence ministry said several US warplanes crashed in Kuwait on Monday morning, but their crew survived. “Several US warplanes crashed this morning. Confirming that all crew members survived,” a defence ministry spokesperson said in a statement, adding that the cause was under investigation.

    “Authorities immediately initiated search and rescue operations, evacuating the crews and transporting them to a hospital for medical evaluation and treatment. He noted that their condition is stable,” the statement added.

    Explosions were also reported in Dubai and Bahrain. A spokesperson for Qatar’s Foreign Ministry said on Monday that “Iran has to pay a price for this blatant attack on our people.”

    “An attack like this cannot be left without retaliation,” the statement added.

    Iran also launched strikes against the United Arab Emirates in a continuation of its retaliatory attacks against countries in the region.

    French Defence Minister Catherine Vautrine confirmed that a French military base in the UAE was hit on Sunday in an Iranian drone attack targeting the port of Abu Dhabi.

    “The damage is limited and only material. No injuries have been reported,” the minister said in a post on social media, adding that French forces are maintaining maximum vigilance.

    Iran went on retaliatory attacks on the region after Israel and the US launched strikes against Iran on Saturday, killing Ayatollah Ali Khamenei and other top officials of the Tehran regime. Nigeria’s Private Sector Activity Deteriorated in January -Stanbic IBTC

    Iran’s actions in the region represent a “dangerous escalation”, which threatens stability in the Middle East, a joint statement from the US and six allied Gulf states says.

    “Targeting civilians and non-combatant states is reckless behaviour that undermines stability,” the statement – shared by Kuwait’s foreign ministry – reads.

    The statement, originally published in Arabic, was issued jointly by Kuwait, Saudi Arabia, Bahrain, Qatar, Jordan, the UAE and the US.

    They say they “reaffirm our right to self-defence” as apparent Iranian strikes around the region continue. It says attacks have taken place in Bahrain, Iraq (including the Kurdistan Region of Iraq), Jordan, Kuwait, Oman, Qatar, the Kingdom of Saudi Arabia, and the United Arab Emirates.

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    Julius Alagbe
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    Julius Alagbe is a senior financial journalist and Editor at MarketForces Africa with nearly two decades of experience in finance, accounting, and economics reporting.He is one of Nigeria's most prolific financial market reporters, covering capital markets, monetary policy, corporate earnings, banking, telecoms, and macroeconomic developments across Africa.Julius has built a strong footprint reporting on Nigeria's leading corporates and financial services sector, including coverage of the Nigerian Exchange Group, Central Bank of Nigeria monetary operations, MTN Nigeria, GTCO, and major investment banking transactions.He regularly monitors the CBN’s open market operations, interbank FX markets, and equity market movements, providing readers with real-time intelligence on Nigeria’s financial landscape.His reporting draws on direct access to institutional research from firms including Moody’s Ratings, CardinalStone Securities, Fitch, and other leading African investment houses.Julius brings analytical depth and editorial rigour to every story, making complex financial data accessible to professionals, investors, and policymakers across Africa.Julius Alagbe is based in Lagos, Nigeria.

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