UAE's Habshan plant likely offline until 2027 after Iranian strikes
Business
The UAE's Habshan gas plant, its largest, took a major hit from Iranian drone attacks in April and likely will not be fully back online until 2027.
The plant is key to powering homes, factories, and exports, so the damage has been a big deal.
The attacks caused fires that led to one death and four injuries.
ADNOC Gas restores 60% Habshan capacity
ADNOC Gas has managed to restore 60% of the plant's capacity so far, aiming for 80% by late 2026 and full recovery the following year.
ADNOC Gas's net profit fell 15%, dropping them to about $1.1 billion during the period.
On top of that, ongoing shipping risks in the Strait of Hormuz are making energy exports tougher for both the UAE and Qatar, highlighting just how important it is to keep these vital routes safe.