Iraqi Oil Export Operations Remain Uncertain Amid Tension-Report

[Purveyor]

MANAMA, Bahrain -(Dow Jones)- Iraqi oil exports from the southern port city of Basra are shrouded in uncertainty Sunday, with media reports suggesting the authorities have closed two pipelines feeding crude oil to the Basra terminal as a precaution against possible sabotage attacks.

Kuwait News Agency quoted an official at the state-owned South Oil Co. as saying that oil pumping through the pipelines has been completely stopped due to fears of attacks by supporters of Shiite cleric Muqtada al-Sadr, who is battling U.S. forces in the city of Najaf.

The SOC official said oil pumping was reduced to around 800,000 barrels a day since Thursday after the company received threats from al-Sadr loyalists, according to KUNA.

Link to entire Dow Jones Newswire Report

[thebigidea]

1. let us all shed a tear for Iraqi oil export operations.

Oh my, isn't this terrible for the "Iraqi People" - oh, boo hoo hoo.

[daleo]

2. I wonder about corruption too

Who knows how much oil is flowing? There might be all kinds of oil, essentially being looted from Iraq, under cover of these stories. The profits would be fantastic - $45 per barrel with no royalties being paid.

[bemildred]

3. I have read that smuggling their own oil out is one of the

ways Iraqis make ends meet these days, unemployment being
otherwise so high. But I doubt it's enough to satisfy our
thirst.