Click Here For The Peninsula Home Page
  Home | Site Feedback | Contact Us     
Qatar News
World News
Business News
Sports News
Entertainment
Features
Young Editors
Commentary
Editorial
Photo Gallery
Discussion Forum
From Our Archives
Search

Free Newsletter
e-mail:
Contact Us
Contact Details
Advertising
Newspaper Subscribe
Letters To The Editor
Site Feedback
Iraq plans to resume oil exports via Turkey
Web posted at: 8/22/2007 0:22:44
Source ::: REUTERS

DAMASCUS • Iraq is preparing to resume oil exports through Turkey in a few weeks through a new pipeline built in the midst of violence to help handle the flows, Oil Minister Hussain al-Shahristani said yesterday.

Crews have finished testing a 500,000-barrel per day pipeline covering a section of the northern export route and a special security force numbering thousands is being deployed to guard the network, Shahristani said.

“We have executed construction in a region practically on fire and we now have a bigger margin for manoeuvre as far as countering sabotage,” Shahristani said.

“The tests have been successful and the new security force is a different breed from the corrupt one of old,” he said on a visit to Damascus as a member of an Iraqi delegation negotiating improving ties with the Syrian government.

The pipeline runs from the oil centre of Kirkuk to the refining centre of Baiji, around 100 km southeast. Exports are initially planned at 300,000 bpd, rising to 500,000 bpd, the minister said.

Regular northern flows would raise Iraqi exports, which averaged 1.7-1.8 million bpd in July, to 2.2 million bpd. This is still less than 1990 levels, when crushing United Nations sanctions were imposed on Iraq after it invaded Kuwait.

Sabotage attacks averaging two a week against northern export pipelines have all but stopped Iraq’s oil flows through Turkey’s Ceyhan port after the 2003 U.S. invasion that removed Saddam Hussein from power. Numerous attempts since to ensure smooth flows have failed.

Shahristani blamed the sabotage on rebels fighting the U.S.-backed government and al Qaeda operatives.

In the more stable south, Shahristani said Iraq is finalising talks to build a 100,000 bpd export pipeline from Basra to Iran’s Abadan port.

The project, which is scheduled to take a year to complete, has been delayed but meetings with the Iranian side are due to resume this month.

 
Related Stories

US oil prices fall more than 2pc

Dutch government to inject €3bn into ABN AMRO bank

British public finances worsen

Europe bourses take a hit amid recovery worry

Strengthening dollar weakens gold

Kremlin accuses Ukraine president of blackmailing Europe on gas supply

China rejects calls to probe its export rules

EU accuses S&Pof abusing top position in market

Over $14bn deals at Dubai Airshow

Kuwait index up as Zain rebounds

WTO urges non-discrimination as global economic crisis nears end

Deadline clouds Boeing’s horizon

Women struggle to break into boardrooms

Cadbury transatlantic bid has long way to go

Sarkozy unveils €35bn ‘national bond’

Leaner Sony back on track, says CEO

Reliance ups fuel sales to Africa, cuts Europe

Energy projects worth $34bn planned in Chile

JPMorgan bags Cazenove in $1.7bn buyout

Energy projects worth $34bn planned in Chile

Economic rebound lifts China Mobile call traffic

More Business News


Qatar News | World Watch | Business News | Sports News | Entertainment | Features
Young Editors | Commentary | Photo Gallery | Discussion Forum

  Back to the Top © 2001 The Peninsula. All Rights Reserved.
Contact Us for any content re-production.
To advertise on the site, please get in touch with our Ad. Manager.
Site designed and developed by:
SiDSnetMinds