An Iranian missile attack on Israel's Haifa Bay refinery has caused estimated damages ranging between $150 million and $200 million, according to statements from Bazan Group, the facility’s operator.
In a disclosure to the Tel Aviv Stock Exchange, Bazan said it has already received an advance payment of 160 million shekels (approximately $48 million) to begin partial repairs. The company is coordinating with a compensation fund to secure additional payments as rehabilitation continues, News.Az reports, citing Iranian media.
The missile strike targeted the refinery’s power generation unit, which is essential for producing steam and electricity to maintain operations. Bazan warned that restoring full functionality after such an abrupt external stoppage is a complex process.
The company added that the damage assessment remains preliminary and subject to change as repair work progresses. Final costs and compensation figures are still uncertain.
The Haifa Bay refinery is one of Israel’s most important energy infrastructure assets, and its disruption could have broader implications for the country’s energy supply.
