The clock is running down on US President Donald Trump’s “Power Day” deadline of 8PM EST on April 7 (midnight GMT), where he has threatened to destroy Iran’s entire power sector, ratcheting up the pressure on Tehran to cut some sort of deal to reopen the Strait of Hormuz.

Over the Easter weekend, the White House and Iran traded escalating hits to major economic assets in a game of destructive chicken, to see who would blink first. A number of power, oil and gas facilities were hit by missiles causing extensive damage and fires. It is not yet clear how extensive the damage in most of the attacks has been, but amongst the targets were some of the most important facilities in the Gulf region.

The weekend saw phrenetic diplomacy as regional mediators tried to head off the US power strike that could result in extensive and long lasting damage to all the economies of the region. Pakistan floated a second two-phase peace plan, backed by the US, that would introduce a 45-days ceasefire to buy time for a more permanent peace deal.  Tehran almost immediately rejected the proposal and released a new ten-point list of demands on April 6 that included a call for reparations, a comprehensive security plan and continued control over the Strait of Hormuz.

Reportedly US envoys Steve Witkoff and US Vice President JD Vance were negotiating with Iranian Foreign Minister Abbas Araghchi via messages passed through Pakistani officials trying to find a compromise.

Authorities from Iran and Oman held talks on easing passage through the Strait of Hormuz, the Omani state news agency reported on April 5. The agency added that "possible options" were discussed by both sides with regards to ensuring a smooth passage through the essential waterway. Tehran last week suggested that Iran and Oman jointly control the Strait of Hormuz as part of any conflict resolution deal.

Former International Atomic Energy Agency (IAEA) chief Mohamed El Baradei warned the region could become a “ball of fire” if the conflict continues to escatate and urged international action to stop further escalation.

Nearly 3,600 people have been killed in the US-Israeli strikes on Iran as the conflict moves into its sixth week, including at least 1,665 civilians, the Human Rights Activists news agency (HRANA) said. Of those numbers, at least 248 of those killed were children, the US-based NGO said.

Major attacks: 

Iran’s South Pars gas works: the US struck Iran’s South Paras gas processing facilities, one of the biggest in the world. Iran shares the gas field with Qatar, which calls their part of the field the North Field and extends out into Iran waters under the Strait of Hormuz. Iran hit the South Pars gas complex in Qatar on March 18 taking 17% of its production offline and doing damage that QatarEnergy say will take from three to five years to repair.

Now the US has hit back at the Iranian portion of the field that will only exacerbate the gas supply shock to the global energy market.

KSA Jubail SABIC petrochemical plant: Iran conducted a major ballistic missile attack on Jubail, in the Kingdom of Saudi Arabia (KSA) during the night of April 6, hitting the Saudi Basic Industries Corporation (SABIC) industrial zone and petrochemical facility, setting it on fire.

SABIC was founded in 1976 by the Saudi government to develop the country’s hydrocarbons resources beyond crude oil, moving into higher-value products such as plastics, chemicals and fertilisers. It is the world's largest industrial city and contributes roughly 7% of Saudi Arabia's GDP. The company is majority-owned by Saudi Aramco, which acquired a 70% stake in 2020 in a deal worth about $69bn. That transaction was part of Saudi Arabia’s broader strategy to integrate oil production with downstream petrochemicals.

The Saudi Ministry of Defence has acknowledged the attack and says damage assessment is underway. Iran named the Jubail petrochemical complex as a "legitimate target" on March 18 after the South Pars strike, but this was the first time the complex has been hit by Iranian missiles.

A simultaneous shutdown of Iran’s petrochemicals and Saudi’s SABIC could trigger a global industrial "cardiac arrest,” by removing some 20% of the world’s trade in methanol, urea, and polymers would spike global inflation by 1.5–2%, say experts.

Bahrain Petroleum Company (BAPCO): Bahrain's main oil refinery was hit on the morning of April 6, setting the facility's tank farm ablaze.

Iran stuck the facility in retaliation for an Israeli airstrike on the Mahshahr petrochemical complex in Iran a day earlier. According to reports people in Mahshahr cannot breathe due to the chemical pollution caused by the US and Israeli bombardment of the petrochemical factories.

The IRGC Aerospace Force has targeted a major oil refinery of the Bapco Energies group in Bahrain using Shahed-136 one-way attack drones.

Videos circulating show the moment of impact, with large fires and explosions at the refinery site. Similar incidents have previously caused major fires and disruption at Bapco facilities, underscoring their strategic importance. 

Authorities in Bahrain said the fire at a Bapco facility was quickly extinguished.

Naval attacks: Hezbollah claimed it struck an Israeli Navy ship 68 nautical miles off the coast of Lebanon with an anti-ship cruise missile. According to them, the ship is now burning. This remains unconfirmed, and Israeli media is denying the event.  

Israel drone factory:  The Israeli newspaper Yediot Ahronot reported that the drone factory belonging to Israel, which was targeted onApril 4 in the Beit Shemesh area by an Iranian missile, was completely destroyed.

Kuwait Petroleum Corporation: Kuwaiti authorities reported "severe material damage" on April 5 on its oil refinery following an Iranian drone attack, which set ablaze operating units.

Iranian drone struck two of Kuwait’s power and desalination plants as well as the Shuwaikh oil sector complex in Kuwait City, causing fire and significant damage, the Kuwaiti government said early on April 5. The attack knocked both the power and desalination plants out of service, according to a joint statement from Kuwait’s Ministry of Electricity, Water and Renewable Energy and the Kuwait Petroleum Corporation, or KPC.

the attack also hit Kuwait’s Mina al-Ahmadi oil refinery. Fires erupted in multiple operating units. KPC confirmed the attack. but said firefighters contained the blazes and no  injuries were reported. This was the second strike on the same facility in fifteen days.

Mina al-Ahmadi is one of the largest refining complexes in the Gulf, processing up to 346,000 barrels per day. It sits south of Kuwait City, near Camp Arifjan, the forward headquarters of US Army Central Command. Ali Al Salem Air Base, the theatre’s primary airlift hub, has sustained damage to over a dozen structures from Iranian strikes since February 28.

Abu Dhabi petrochemical plant: 

An Iranian attack on Abu Dhabi’s main petrochemical plant caused fires and halted operations at the Borouge petrochemical plant after debris from down rockets fell on the facility. “Operations at the plant have been immediately suspended pending a damage assessment,” the Abu Dhabi Media Office said, adding that emergency teams are responding. “No injuries have been reported,” officials said.

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Bloomberg compiled a useful list of all the energy and economic targets that have been hit between February 28 and April 3 reproduced below:

Oil Refineries:

• Ruwais, UAE: One of the biggest refineries in the world was shut as a precautionary measure March 10 after a drone strike caused a fire in the industrial area where it’s located.
• Ras Tanura, Saudi Arabia: Saudi Aramco temporarily halted operations at the kingdom’s largest crude processing plant — with 550,000 barrels a day of capacity — after a drone attack in the first few days of the war. The facility has since been restarted.
• Samref, Saudi Arabia: A drone fell on the refinery that’s half owned by Exxon Mobil Corp. on March 19.
• Bapco Energies, Bahrain: The 400,000 barrel-a-day plant was damaged in an attack last month and declared force majeure on operations that had been impacted.
• Mina Al-Ahmadi, Kuwait: A drone attack caused fire in a number of operational units on April 3. The refinery suffered had also been hit on two consecutive days last month that had shut some units.
• Mina Abdullah, Kuwait: A fire at the plant was extinguished following a March 19 attack.
• Lanaz, Iraq: Operations were suspended at the plant in the northern city of Erbil last month after a fire caused by a drone strike, Reuters reported, citing unidentified provincial officials.

Gas Facilities

• Ras Laffan, Qatar: QatarEnergy said LNG facilities were hit by Iranian missiles, triggering fires that caused extensive damage, including to Shell Plc’s gas-to-liquids plant. QatarEnergy has declared force majeure on some long-term supply contracts.
• Habshan, UAE: Abu Dhabi suspended operations at the country’s largest natural gas processing facility on Friday following an attack that sparked a fire.
• South Pars, Iran: Israel attacked facilities at Iran’s giant gas field March 18, with fires causing some units to be taken out of production, according to the semi-official Tasnim news agency.
• Isfahan, Iran: A gas pressure-regulation station and an associated administrative building were targeted this week in central Isfahan province in recent US–Israeli attacks, the semi-official Fars news agency reported.
• Shah, UAE: Operations were suspended after an Iranian drone attack on March 16 caused a fire at the massive natural gas field.
• Das Island LNG, UAE: Abu Dhabi plant in the Persian Gulf were operating at low levels due to inability to export via the Strait of Hormuz.

Oil Fields

• Majnoon, Iraq: The oil field in the south of the country was targeted by an attack, according to a statement from Iraq’s Oil Ministry, which didn’t provide any additional details.
• Shaybah, Saudi Arabia: The 1 million barrel-a-day field in the kingdom’s east has been repeatedly targeted by multiple drones. No damage has been reported.

Nuclear Plants

• Bushehr, Iran: A projectile struck the grounds of the Bushehr nuclear power plant March 27, Iran’s Fars news agency reported, adding preliminary assessments indicated no damage to any section of the facility. The plant had also come under attack previously.
• Aluminum Plants
• Al Taweelah, UAE: Emirates Global Aluminium said March 28 that it sustained “significant damage” at its site at the Khalifa Port industrial zone in Abu Dhabi following Iranian attacks.
• Alba, Bahrain: Aluminium Bahrain said it was assessing the extent of damage to its facility after an Iranian attack.
• Mobarakeh, Iran: Mobarakeh Steel Co. completely halted production after attacks caused damage and destroyed key units, Iran’s state-run Nour News reported April 2, citing a company statement.

Ports

• Yanbu, Saudi Arabia: Loadings at the key Red Sea port resumed March 19 after a brief halt, following an Iranian attack. The facility has become crucial as the kingdom races to boost exports following the near standstill in the Strait of Hormuz.
• Fujairah, UAE: The critical Emirati port outside Hormuz has been periodically shut by drone strikes, impacting flows of both crude and fuels.
• Jebel Ali, UAE: DP World has previously suspended operations at the key container port in Dubai as a precautionary measure.
• Sohar, Oman: the port has resumed operations after being shut after the area was hit by drones.
• Mina Al Fahal, Oman: Crude export terminal resumed operations on March 12 after being closed as a precautionary measure.
• Salalah, Oman: The port suspended operations after an attack March 28, according to Inchcape Shipping Services. Oman said it was investigating the source and motive of the strike as no one claimed the attack. The facility has also previously been hit.
• Khalifa Bin Salman, Bahrain: Maersk’s APM Terminals unit said March 12 it suspended operations at the port.
• Shahid Haghani, Iran: US-Israeli strikes targeted the port in the southern city of Bandar Abbas, near the Strait of Hormuz, the semi-official Tasnim news agency reported on April 1.