Iraq oil exports back to pre-attack levels

BAGHDAD – Iraqi oil exports through the Persian Gulf were back at their usual levels, a week and a half after attacks on two southern pipelines halted shipments, a port official said at the weekend.

Oil was flowing at about 70 000 barrels an hour to the terminals in Basra and Khor al-Amaya after repairs to a second pipeline were completed, said Moayd Hashim, harbour master at the Basra oil terminal. Repairs to a smaller pipeline were completed on Thursday.About 1,68 million barrels a day of crude could now be exported, Hashim said.Iraq halted exports on June 15 after the attacks, prompting crude oil futures in London and New York to rise about 3 per cent within two days.Iraq had lost about US$1 billion (N$6,33 billion) in oil income during the past year as a result of sabotage to oil infrastructure, Prime Minister Ayad Allawi has said.- Nampa-ReutersRepairs to a smaller pipeline were completed on Thursday.About 1,68 million barrels a day of crude could now be exported, Hashim said.Iraq halted exports on June 15 after the attacks, prompting crude oil futures in London and New York to rise about 3 per cent within two days.Iraq had lost about US$1 billion (N$6,33 billion) in oil income during the past year as a result of sabotage to oil infrastructure, Prime Minister Ayad Allawi has said.- Nampa-Reuters