Iraqi Pipeline Cut

Discussion in 'Current Affairs, News and Analysis' started by Not_Whistlin_Dixie, Jul 3, 2004.

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  1. From Reuters, 3 July 2004:

    "Guerillas set a sourthern oil pipeline ablaze on Saturday, halving Iraq's vital crude exports, in the first major sabotage attack since an Iraqi interim government took over from the U.S. led occupation."

    The fire was set in the Faw Peninsula. It has the effect of curtailing exports to 960,000 bbls/day.

    "Saboteurs Halve Iraqi Oil Exports"
  2. Better go fill up the car before the price goes up again-or the tight Jock twat in #11 puts up the tax on it again :evil:
  3. Here we go again.

    This is from the Australian Financial Review, July 5, 2004:

    "Saboteurs have attacked an oil pipeline linking Iraq's northern and southern fields a day after the country's oil exports were halved by a hole blown in another pipeline.

    "An international oil company executive says the attackers seem to have had inside information..."

    "Exports Reeling After Oil Pipeline Hit"
  4. July 6

    Light sweet crude now trading up at $39.15/bbl.

    Iraqi supply interruptions cited.

    Non-Iraq developments:

    1. Political instability in Nigeria.

    2. Russian government crushing Yukos, Russia's biggest oil conglomerate.

    3. This morning's financial news included assertion Saudis might not come through with promised production boost.
  5. From the Associated Press via NY Times.

    Nigerian subsidiary of Total Petroleum just shut down production to avert damage to facilties during labor dispute.

    This decision suspends production of 235 thousand bbls of crude per day, approximately 10% of national production. Also interrupts production of 187 million cubic feet/day of natural gas.