Iraqi government stresses that the attacks obstruct plans to increase oil production
Iraq, Economics, 10/18/2004

The Iraqi oil minister Thamer al-Ghadban admitted that the attacks which target oil industry will delay the government's plan to increase oil production.

Al-Ghadban stressed that the government will proceed in its plan to increase oil production despite the continued attacks and threats by the armed groups.

Al-Ghadban refused to specify the nature of the threats, but he indicated that the oil pipelines are mostly exposed to attacks as well as the kidnapping of Turkish trucks drivers who transport fuels, stressing that further measures were taken to face this problem.

He explained that at the meantime, Iraq produces some 2.5 million barrels of oil daily of which it exports 1.8 million barrels from al-Basra and a small amount from the north to Jeihan port on the Mediterranean in Turkey.

The Iraqi minister indicated that the low refining capacity of the Iraqi refiners and the great increase in the number of imported cars after the collapse of the regime, constitute the main reasons for continued imports of fuels from Turkey. However, several observers consider that oil smuggling is one of the main reasons for fuel imports.

Previous Stories:
  The first loan from the IMF for Iraq   (9/30/2004)
  Iraq joins the Arab gas line project   (9/27/2004)
  Iraq joins the Arab gas line project   (9/27/2004)
  Shifts in Iraq funding designed to address immediate priorities   (9/25/2004)
  Shifts in Iraq funding designed to address immediate priorities   (9/25/2004)
  An attack at an Iraqi oil line   (9/24/2004)

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