Iraq resumes the operation of a main pipeline in the south
Iraq, Economics, 8/24/2004

The Iraqi south oil company announced on Monday the resumption of the operation of the main oil pipelines of Iraq's exports of crude oil in the southern part of the country, following the protection of the basic infrastructure for oil in the region, through the deployment of forces from the Iraqi national guard, supported by the American forces.

One official in the company said that the resumption of oil through the line restored back the flow of oil supplies to Basra and Khouir al-Amya ports on the Arab Gulf to almost two million barrels daily.

The Iraqi announcement comes at a time when the price of oil increased yesterday in the Asian markets.

The price of one barrel to be delivered in October reached $ 46.92 per barrel, with an increase of 20 cents over the closure price of Friday in New York which was $ 46.72 per barrel.

The decrease in oil prices from record levels and easing fears of investors over the world economy contributed to a rise in the Tokyo stock market to reach 10960,97 points.

Previous Stories:
  Iraqi oil exports restore back to normal level, 1.9 million barrels daily   (8/23/2004)
  Iraq seeks to end mediators role in oil contracts to avoid kickbacks   (8/23/2004)
  Iraq continues closure of its main oil line, its exports recede   (8/18/2004)

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