The recent Iranian missile strikes have dealt a significant blow to the global oil industry, with major players such as Exxon Mobil and Shell facing billions of dollars in lost revenue.
The strikes, which targeted the Pearl gas-to-liquids facility in Qatar, have knocked out one of Shell's most profitable assets, with the company estimating it will take at least a year to repair.
Exxon Mobil, which has significant investments in Qatar, is expected to lose around $5 billion in revenue per year, with repairs potentially taking up to five years.
The attacks have also highlighted the risks of investing in the Middle East, where geopolitical tensions are on the rise.
Despite the disruption, big oil companies have seen their shares jump with soaring oil prices, driven by the effective closure of the Strait of Hormuz.
However, experts warn that the strategy of investing in the Middle East may no longer make sense, with geopolitical risks becoming a major concern.
