Dubai, UAE – QatarEnergy has announced a decision to stop downstream production just a day after it halted liquefied natural gas output, citing military attacks on its operating facilities as the Middle East conflict between the United States, Israel, and Iran continues to escalate.
Okay News reports that the energy firm announced the update on Tuesday in a post on its official verified X handle. The stoppage will affect several products, including urea, polymers, and methanol, according to the company’s statement.
The company stated that it values its relationships with all stakeholders and will continue to communicate the latest available information. The decision follows Monday’s announcement that QatarEnergy was stopping LNG production due to military attacks on its facilities in Ras Laffan Industrial City and Mesaieed Industrial City.
Iran continues to strike Gulf countries in retaliation for Israeli and US attacks, prompting precautionary shutdowns of oil and gas facilities across the Middle East. Qatari LNG production accounts for about 20 percent of global supply and plays a major role in balancing both Asian and European market demand for the fuel.
Global oil and gas shipping rates have surged to record levels after Tehran targeted vessels transiting the strategic Strait of Hormuz, a key chokepoint carrying roughly one-fifth of the world’s oil and significant quantities of LNG. Brent crude futures jumped nearly 10 percent this week amid multiple shutdowns across the region. In Nigeria, the Dangote Petroleum Refinery increased its petrol gantry price by N100 to N874 per litre (approximately $558), signalling renewed upward pressure on fuel prices nationwide. This LNG production halt underscores the vulnerability of global energy supplies to geopolitical tensions.
