Brent oil price effected by fire in an oil well in al-Amara to the south of Iraq
Iraq-Regional, Economics, 8/17/2004

An Iraqi source announced yesterday, Monday, that armed Shiite set fire in an oil well to the south of Iraq.

A government's spokesman said that the well which is situated near al-Amara city was targeted on Sunday.

This news resulted in Monday's increase in the Brent oil price in the world Oil price to 44.11 dollars per one barrel.

One official at the civil defense directorate at al-Amara city to the southern part of the country said that unidentified elements set fire in one of the oil wells ( al-Helfayeh 2 oil well) near the city.

The civil defense director in al-Amara, Lilo Sadoun al-Muhammadawi, said that the attack targeted the main valve of the well and this resulted in setting fire in it. He stressed that fire in the well continues.

Earlier, the South Oil company announced halting oil pumping because of the threats by the supporters of the Shiite clergy Muqtada al-Sader on attacking oil establishments.

Iraq, however, depends in its oil exports which are estimated at 1.8 million barrels a day on the southern part of the country through its ports there.

The announcement to halt oil pumping in the south directly affected the crude oil price in the world market were it registered records.

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