US-Israel strikes and Tehran’s retaliation are pushing oil and gas facility damage costs toward $50 billion, Rystad Energy projects.
The US-Israel war on Iran could push regional repair costs in the Middle East to as much as $58 billion, with oil and gas facilities alone accounting for up to $50 billion, according to an analysis released by energy research firm Rystad.
However, the report stresses that the main constraint is not funding but limited global capacity to supply key equipment and engineering services, which could delay repairs for years.
Rystad’s estimate marks a sharp increase from the initial $25 billion projection the firm issued three weeks ago, reflecting the broader scope of damage before the April 8 ceasefire between the US and Iran.
“Repair work does not create new capacity. It redirects existing capacity, and that redirection will be felt in project delays and into inflation far beyond the Middle East,” Rystad senior analyst Karan Satwani said.
“The $58 billion bill is the headline, but the knock-on effects on energy investment timelines globally may prove just as significant,” Satwani highlighted.
Rystad said total repair spending is likely to average around $46 billion, with downstream refining and petrochemical assets accounting for the largest share due to the scale and complexity of the damage. Industrial, power, and desalination facilities could add $3 billion to $8 billion, with recovery timelines diverging across assets and countries due to differences in execution capacity and supply chain constraints.
Iran faces the most extensive damage, with costs potentially reaching $19 billion across gas processing, refining, and export infrastructure, the company said. Qatar’s impact, meanwhile, is seen as more concentrated but technically complex, centered on the Ras Laffan LNG hub, where repairs may coincide with ongoing expansion projects.
Tehran plans to seek compensation from five Arab states – Bahrain, Jordan, Qatar, the UAE, and Saudi Arabia – for damage from the latest military standoff, Iran’s UN envoy Amir Saeid Iravani told Tasnim. He said the countries acted as “co-participants” with the US and Israel and breached their obligations toward Iran.
Last week, the Iranian Red Crescent Society reported that 125,630 civilian units had been affected by the war, including 100,000 residential homes, some of them completely destroyed. It also cited damage to 23,500 commercial properties, 339 medical facilities, 32 universities, 857 schools, and 20 Red Crescent centers.
IRCS head Pir Hossein Kolivand stressed that around 15 major logistical sites, including fuel depots, airports, and civilian aircraft, had been hit, highlighting widespread disruption to transport, energy, and public services.
https://www.rt.com/business/638519-iran-war-billion-energy-repair/
Volker Turk has warned that efforts to advance reparatory justice are facing resistance in “certain quarters,” and urged countries to back Africa’s push.
Reparatory justice for historical crimes, including colonialism, enslavement, and the trade in enslaved Africans, is crucial to dismantling systemic racism, UN High Commissioner for Human Rights Volker Turk has said.
Speaking at the UN Permanent Forum on People of African Descent on Tuesday, Turk linked present-day discrimination against people from the continent to the enduring legacy of colonialism and enslavement.
”Racism and dehumanizing rhetoric continue to permeate public institutions, communities, and online platforms,” he said, according to the UN Press Service. Turk noted that “digital technologies, including AI, are reproducing and amplifying existing biases against people of African descent.”
The remarks come weeks after the UN General Assembly adopted a resolution declaring the transatlantic slave trade “the gravest...
The US VP had to defend President Trump’s Gaza policy at a rally on a Georgia college campus.
US Vice President J.D. Vance was forced to defend Washington’s policy in Gaza after he was booed and heckled at a key MAGA event on Wednesday.
Co-founded by the late Charlie Kirk, Turning Point USA (TPUSA) is a conservative student group that has long been seen as a strong support base of President Donald Trump’s MAGA movement but is now showing apparent cracks.
Less than 15 minutes into a TPUSA event at the University of Georgia on Wednesday, Vance was interrupted by hecklers over US policy in Gaza, with one audience member shouting, “Jesus Christ does not support genocide!” As he attempted to respond, others shouted, “You’re killing children!” and “You’re bombing children!”
Vance replied by referring to Trump’s achievements as president, including securing a fragile ceasefire in Gaza, something he said the previous administration of Joe Biden failed to do.
“I ...
Sergey Shoigu has cautioned Finland and the Baltic states against allowing Kiev to use their airspace for attacks on Russia.
Russia would have the right to retaliate if Finland and the Baltic states are deliberately allowing Ukrainian drones to pass through their airspace, Security Council Secretary Sergey Shoigu said on Thursday.
“Recently, there has been an increase in Ukrainian drone strikes against Russia via Finland, Lithuania, Latvia, and Estonia,” Shoigu told journalists. “As a result, civilians are suffering and significant damage is being caused to civilian infrastructure.”
Either Western air defenses are proving ineffective, or these four countries “deliberately provide their airspace, thereby becoming open accomplices in aggression against Russia,” he added. In the latter case, Moscow has the right to self-defense in response to an “armed attack” under Article 51 of the UN Charter, the security chief stressed.
In recent weeks, Kiev has intensified drone strikes on ...
