The recent ransomware attack against Colonial Pipeline and disruption of its fuel deliveries came in the same week that oil and gas assets were deliberately targeted by rocket fire during cross-border fighting between Israel and Gaza.
While oil and gas assets have come under fire many times over the years, the frequency of these episodes has sharply increased in recent months. Before the targeting of Colonial and the assets in Israel, the recent proliferation in attacks on oil infrastructure – from Saudi Arabia to Libya to tankers sailing between terminals – should be sounding an alarm for policymakers and corporate leaders alike.
How should industry and government respond to strengthen security in the physical and cyber spheres? What should market participants and investors expect as malign actors scope new targets and as mitigation strategies are implemented?