Iraq's Oil industry is a long way from recovery
By Mariam Karouny
BAGHDAD (Reuters) - Sabotage and storms have demolished Iraqi hopes of lifting oil exports from their lowest level since the U.S.-led invasion and highlighted the scale of the challenge facing a new government and oil minister.
Insurgents blew up pipelines from Iraq's northern fields on Wednesday, halting the flow of oil to Turkey. On Thursday high winds and swells stopped loadings in the south.
That means another month of exports grinding along near one million barrels per day, robbing Iraq, which sits on the world's third biggest oil reserves, of badly needed revenue to rebuild.
http://tinyurl.com/8cwsb
BAGHDAD (Reuters) - Sabotage and storms have demolished Iraqi hopes of lifting oil exports from their lowest level since the U.S.-led invasion and highlighted the scale of the challenge facing a new government and oil minister.
Insurgents blew up pipelines from Iraq's northern fields on Wednesday, halting the flow of oil to Turkey. On Thursday high winds and swells stopped loadings in the south.
That means another month of exports grinding along near one million barrels per day, robbing Iraq, which sits on the world's third biggest oil reserves, of badly needed revenue to rebuild.
http://tinyurl.com/8cwsb
posted by Oil Shock at 10:31 AM
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