Mohsen Paknejad, Iran's Oil Minister, arrived on Kharg Island on October 6, 2024, to inspect oil facilities and meet with operational staff, as reported by the oil ministry's news website Shana. This visit comes at a time of heightened tensions following a missile attack by Tehran in late September 2024.
Kharg Island, located approximately 25 km off the Iranian coast in the Persian Gulf, is Iran's largest and main oil export terminal. The island's strategic importance is underscored by its capacity to store 23 million barrels of crude oil and its ability to handle about 90% of Iran's oil exports.
An Israeli military spokesperson indicated that Israel would respond to Iran's recent missile attack "when the time is right." This statement has raised concerns about potential targeting of Iran's oil infrastructure. U.S. President Joe Biden commented that Israel had not yet determined its response to the attack.
The oil terminal on Kharg Island has a rich history, having been first discovered in 1966 and playing a significant role in Iran's oil industry ever since. Despite being heavily damaged during the Iran-Iraq War (1980-1988), the facilities were rebuilt and modernized in the early 2000s.
Iran's oil sector has faced international sanctions since 2018, imposed by the U.S. to pressure Tehran over its nuclear program. Despite these restrictions, China has emerged as Iran's primary oil client. Analysts estimate that China imported between 1.2 to 1.4 million barrels per day from Iran in the first half of 2024, disregarding U.S. sanctions.
The island's strategic location near the Strait of Hormuz enhances its importance in the global oil trade. Kharg Island's facilities can accommodate very large crude carriers (VLCCs), making it a crucial hub for Iran's oil exports.
Beyond its oil infrastructure, Kharg Island boasts a population of approximately 8,000 people and has its own airport and desalination plant. The island also has historical significance, having been inhabited since the Achaemenid period (550-330 BCE) and playing a role in the Persian Gulf pearl trade.
As tensions in the region persist, the focus on Kharg Island's oil facilities highlights the complex interplay between energy resources, geopolitics, and international relations in the Persian Gulf region.