Iraq oil exports stop after attacks on pipelines
Attacks on pipelines have brought oil exports from southern Iraq to a complete halt, a senior oil official said Monday, according to The AP.
Oil flows out of the southern pipelines, which are responsible for 90 percent of Iraq's exports, stopped late Sunday and were not likely to resume for at least a week, an official from South Oil Co. said.
A halt in southern oil exports costs Iraq some $60 million a day in lost income at current global crude prices, said Walid Khadduri, an oil expert who is chief editor of the Cyprus-based Middle East Economic Survey. (menareport.com)
© 2004 Mena Report (www.menareport.com)