Israel’s Bazan Group announced a complete shutdown of its Haifa Bay refinery facilities on June 16, 2025, following significant damage to a power station from an Iranian missile attack. The strike, part of escalating Israel-Iran tensions, resulted in the deaths of three employees, according to a regulatory filing reported by Reuters.
The Iranian ballistic missile strike hit the Bazan oil refinery complex in Haifa on June 15, 2025, damaging a power station critical for steam and electricity production. The attack trapped three workers in a fortified room, where they suffocated under rubble amid a subsequent fire, per Ynet News. Bazan stated that all refinery operations, with a capacity of 197,000 barrels per day, have ceased, and damage assessments are ongoing.
#BREAKING
Haifa oil refinery shuts down after Iranian missile strike
All operations halted due to heavy damage pic.twitter.com/NedK34m7kR
— Tehran Times (@TehranTimes79) June 16, 2025Impact on Haifa and Israel’s Energy
Located in Haifa Bay, the Bazan refinery is a cornerstone of Israel’s energy infrastructure, meeting significant fuel demands. The shutdown disrupts supply chains, with Brent crude prices rising to $74.83, as noted on X. Israel relies on imported oil for nearly 40% of its energy needs, making the outage a strategic blow, per The Times of Israel.
The attack is part of a four-day aerial conflict, with Iran launching over 100 missiles in retaliation for Israel’s strikes on its nuclear and energy sites. Previous Iranian attacks on June 14 damaged Bazan’s pipelines, but this strike was the deadliest, killing three and prompting a 2.8% drop in Bazan’s shares, per Financial Times. X users expressed concern over escalating tensions and energy disruptions.
The Bazan refinery shutdown highlights the vulnerability of critical infrastructure in the Israel-Iran conflict, impacting regional energy markets and global oil prices. As assessments continue, the incident underscores the need for robust defences.
