Iranian missile shrapnel, from a missile intercepted by Israel's missile defense system, has hit Israel’s biggest oil refineries in Haifa Bay. Following the strike, smoke was seen billowing above the Bazan Group Oil Refineries (TASE: ORL) installation. The possibilty of pollution from the damage has been ruled out.
In addition, shrapnel from the missile hit a high tension electricity line causing power outages in the area. Electrical supply was quickly restored to the affected neighborhoods by the Israel Electric Corp. (IEC) but has not yet been fully restored to the industrial zone.
Bazan also experienced significant damage during the previous campaign against Iran last June, which killed three of the refinery's employees and caused concerns about disruptions in fuel supplies, which ultimately did not materialize. -
An Israel Fire and Rescue spokesperson said of the current attack that "no casualties are known so far," but the Bazan structure itself was damaged by the missile. At this stage, the extent of the damage to the facility and the possible impact on the supply of fuel to the Israeli economy are still unclear.
Minister of Energy and Infrastructure Eli Cohen said, "Damage to the electricity network in the north is localized and not significant. IEC teams are already working in the field and have restored electricity to most of the disconnected areas. Electricity will be restored to the remaining disconnected areas within a short period of time. In addition, the barrage to the north did not cause any significant damage to infrastructure sites in the State of Israel."
Published by Globes, Israel business news - en.globes.co.il - on March 19, 2026.
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