Iran missiles cause $200 mn damage to Israel Haifa refinery

Damage caused by an Iranian missile attack on Israel's Haifa Bay refinery and subsidiaries is estimated between $150 million and $200 million.

News ID: ۲۰۰۱۵۷۰

17 July 2025

Israel’s Bazan Group reported Wednesday that the damage caused by an Iranian missile attack on its Haifa Bay refinery and subsidiaries is estimated between $150 million and $200 million, Israeli sources reported.

The company told the Tel Aviv Stock Exchange it has already received an advance payment of 160 million shekels (about $48 million) to begin repairing part of the damage.

Bazan said the advance is against the total direct damage and it is working with a compensation fund to secure additional payments while continuing rehabilitation efforts.

The attack struck the refinery’s power generation unit, which is critical for producing steam and electricity for the facility. Bazan noted the assessment of the damage is forward-looking and uncertain, based on current information and work plans.

The company said restoring operations after a sudden external stoppage is complex and the final costs and compensation amounts remain unknown./isna