Updated
Updated · Bloomberg · May 4
VTTI oil terminal hit by drone strike
Updated
Updated · Bloomberg · May 4

VTTI oil terminal hit by drone strike

11 articles · Updated · Bloomberg · May 4
  • A fire was reported at the Fujairah facility in the United Arab Emirates, near the Strait of Hormuz, according to people familiar with the matter.
  • The terminal is jointly owned by IFM Global Infrastructure Fund, Vitol Group and Adnoc, and the strike came amid an uptick in attacks in the surrounding area on Monday.
  • The incident raises fresh concern over energy infrastructure security around the strategic waterway, a vital route for global oil shipments.
As drone strikes breach the 'safe' Fujairah oil hub, is the global energy supply facing an inescapable blockade?
With its terminal now a target, can VTTI's owners still achieve their planned multi-billion dollar sale amid a drone war?
Can modern militaries win a war where a $4 million missile is needed to stop a $20,000 drone?