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38

Iraq-Turkey Oil Pipeline Exploded

Sunday night saboteurs detonated sound grenades the Kirkuk-Turkey pipeline in Northern Iraq

Sunday night saboteurs detonated sound grenades the Kirkuk-Turkey pipeline in Northern Iraq, which takes crude from the Kirkuk oilfields to Turkish's Mediterranean terminal of Ceyhan.
The state of the pipeline was difficult even without that ? it has not been in regular use since last August because of a series of sabotage operations blamed on anti-US guerrillas.
The latest attack in the north would reduce Iraqi oil exports by about 350,000 barrels per day, according to experts.
The blast has caused damage and the loss of a huge quantity of oil, according to Northern Oil Co security chief.

"The oil loss has been stopped and a group of technical experts are repairing the pipeline and the damage could be repaired by Tuesday night. Restarting production depends on ... the coalition and the oil ministry."

Northern Oil Co has started to construct a parallel pipeline because the old grid had been attacked at least 20 times.

Today crude oil prices closed higher in trading after an attack Kirkuk-Turkey pipeline.