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Iraq has lost $11B in damage to oil sector

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posted on Jul, 3 2005 @ 03:28 PM
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Iraq has lost about $11.35 billion due to damage to oil sector infrastructure and lost revenue since petroleum exports resumed after the U.S.-led invasion two years ago, an Iraqi oil ministry spokesman said Sunday.

Assem Jihad told Dow Jones Newswires that there had been 300 acts of sabotage against Iraqi oil installations between June 2003 when Iraq resumed exports and May 31. He said 70 acts of sabotage took place in the first five months of 2005.

Jihad said most of the sabotage took place in the northern oil installations preventing the country from exporting around 400,000 barrels a day from its northern oil fields to the Turkish port of Ceyhan.


Thats a pretty good dent in the bank. So who is to blame?




Before the U.S.-led invasion in April 2003, Baghdad used to export 800,000 barrels a day from the northern field around Kirkuk. Iraq has resumed sporadic pumping of crude from the Kirkuk fields to Ceyhan over the last six weeks.


Source

What do these people get out of damaging the oil sector? What does it accomplish?

Related Links:

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posted on Jul, 3 2005 @ 05:26 PM
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It accomplishes 60+ dollars a barrel, and going up every day. It makes exxon richer and the US and Japanese governments pray that this will actually put a dent in the massive imports that China is bringing in.



posted on Jul, 3 2005 @ 07:24 PM
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Originally posted by fusion360
It accomplishes 60+ dollars a barrel, and going up every day. It makes exxon richer and the US and Japanese governments pray that this will actually put a dent in the massive imports that China is bringing in.


How many insurgents get a cut of the oil profits?



posted on Jul, 3 2005 @ 08:07 PM
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Originally posted by Dulcimer

What do these people get out of damaging the oil sector? What does it accomplish?


Well, I guess to the resistance (insurgence), the oil fields are representative of why Iraq was invaded in the first place, so they're hitting the occupiers where they live. However, that said,seems to me that Halliburton (and Dick Cheney) gain coming or going - either pumping oil or repairing damage.



posted on Jul, 4 2005 @ 02:20 AM
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Yeah we invaded for oil so we can have low oil prices and become richer so I‘m assuming that has happened. Get real and grow a brain, the damage to Iraq's oil infrastructure is doing no one any good.



posted on Jul, 4 2005 @ 05:35 AM
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The insurgents are just killing their own people with impunity. They do not mind driving a car laden with explosives into any target of availability. If they were smart(and that would be giving them credit), they would not attack the oil feilds and terminals. It would be a good source of income for the insurgents to protect it unless they are getting major funding from someone else such as Saudia Arabia. Im am appaled that the HNIC in charge of the insurgents has'nt seen this side of it. I guess they have the mentality that if they cannot have it no one will: all the time making those who depend on it LIKE PEACE LOVING FATHER'S, MOTHER'S, and CHILDREN along with those whom just want to provide for their families.



posted on Jul, 4 2005 @ 06:04 AM
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What may on may not happen to Irags abillity to export oil has no bearing on the price of oil. After all, we got along for nearly 12 years with little or no Iraqi oil and prices fluctauted only slightly.
Trying to blame the high price of oil today on the attacks against Iraqi oil fields is ludicrous.



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