Iran's oil minister visits key oil terminal amid Israel strike fears

Iran's Oil Minister Mohsen Paknejad landed on Kharg island, the oil ministry's news website Shana reported on Sunday, amid concerns that Israel could target Iran's largest oil terminal there.

An Israeli military spokesman said on Saturday that Israel would retaliate, following last week's missile attack by Tehran, "when the time is right."

Following Iran's attack, Axios cited Israeli officials as saying that Iran's oil facilities could be hit in response. U.S. President Joe Biden said on Friday that he did not think Israel had yet concluded how to respond.

"Paknejad arrived this morning in order to visit the oil facilities and meet operational staff located on Kharg island," Shana reported, adding that the oil terminal there has the capacity to store 23 million barrels of crude.

China, which does not recognise U.S. sanctions, is Tehran's main client and according to analysts imported 1.2 to 1.4 million barrels per day from Iran in the first half of 2024.