Iraq could resume exporting limited amounts of oil as early as Friday, analysts said, with repair crews nearing the completion of work on the smaller of two pipelines crippled in a sabotage attack.
If no further attacks occur, Iraq could restore and maintain normal shipments of at least 1.5 million barrels a day from its southern oil fields by next week, analysts said Thursday.
An attack on the two southern pipelines serving as Iraq's main export route forced the suspension Wednesday of all crude shipments from the Gulf. The explosion north of the coastal town of Faw was the second such attack in three days.
This disruption in exports deprives Iraq of its main source of income and comes as Iraqis prepare to take over political power from the U.S.-led coalition on June 30. The outage has prompted the Organization of Petroleum Exporting Countries to signal plans for boosting output to offset the shortfall in Iraqi barrels in a bid to keep crude prices from rising.
http://ap.tbo.com/ap/breaking/MGB5GOGMLVD.html