Iraq oil supply back to normal

BAGHDAD – Iraqi oil exports should return to normal in the next 24 hours following a weekend sabotage attack on a vital pipeline in the south of the war-torn country, interim oil minister Ibrahim Bahr al-Ulum said yesterday.

“Exports were at a rate of 1,7 million barrels per day (bpd) before (Sunday’s) sabotage. They fell to one million bpd after the attack and will reach 1,1 bpd today,” the minister told a Baghdad news conference.”We hope to return them to their pre-sabotage level in the next 24 hours,” he added.Ulum, who did not rule out that “foreign elements” were behind attacks on the country’s oil infrastructure, stressed the difficulty of protecting the plethora of pipelines from saboteurs.”We rely on tribes and the Facility Protection Service to protect oil installations and pipelines,” he said.”But it is a difficult task given the 7 000 kilometres of pipelines across the country,” he admitted.”I cannot rule out the involvement of foreign elements in sabotage acts,” Ulum added.Columns of flame and smoke were seen coming from the pipeline Sunday in an area 40 kilometres south of the southern city of Basra.The disruption in oil exports, which the US-led coalition has been counting on to fund the reconstruction of Iraq, came as world oil prices still hovered near the 13-year highs they posted late last week.-Nampa-AFPThey fell to one million bpd after the attack and will reach 1,1 bpd today,” the minister told a Baghdad news conference.”We hope to return them to their pre-sabotage level in the next 24 hours,” he added.Ulum, who did not rule out that “foreign elements” were behind attacks on the country’s oil infrastructure, stressed the difficulty of protecting the plethora of pipelines from saboteurs.”We rely on tribes and the Facility Protection Service to protect oil installations and pipelines,” he said.”But it is a difficult task given the 7 000 kilometres of pipelines across the country,” he admitted.”I cannot rule out the involvement of foreign elements in sabotage acts,” Ulum added.Columns of flame and smoke were seen coming from the pipeline Sunday in an area 40 kilometres south of the southern city of Basra.The disruption in oil exports, which the US-led coalition has been counting on to fund the reconstruction of Iraq, came as world oil prices still hovered near the 13-year highs they posted late last week.-Nampa-AFP