TotalEnergies CEO Patrick Pouyanné told France's National Assembly the 460,000-barrel-per-day SATORP refinery in Saudi Arabia remains at only 70% capacity after being struck by three drones in April. Full restoration to pre-attack output is now not expected until early 2027, signaling prolonged strain on global refining capacity.
The reduced output tightens an already constrained market for middle distillates and gasoline. With Gulf refineries typically supplying both domestic and export markets, the sustained capacity loss could keep fuel prices elevated through 2026. Inventory drawdowns and unplanned outages elsewhere have compounded the supply deficit.
No specific investment figure has been disclosed for the repairs, but the extended timeline suggests complex structural damage beyond initial estimates. The SATORP joint venture, which has been a cornerstone of Saudi Arabia's downstream expansion strategy, may require foreign engineering support to accelerate the rebuild.
The attack, attributed by the source to Iran amid the broader regional conflict, raises questions about energy infrastructure vulnerability. Although a U.S.-Iran peace agreement is reportedly progressing, the slow recovery signals that security risks may keep risk premiums baked into oil markets for years.
Meanwhile, the incident may accelerate Gulf state investments in redundant refining capacity and air defense systems around critical energy assets. The transition to lighter crude feedstocks and increased petrochemical integration could reshape long-term refinery configurations.