Iraq losing millions to oil smugglers
October 10, 2005
Baghdad - About two million litres of fuel is being smuggled out of Iraq to neighbouring countries every day, Iraqi Oil Minister Ibrahim Mohammed Bahr al-Olum admitted in press remarks published Monday.
"Smuggling of oil derivatives is uncontrollable as the difference in prices in Iraq and neighbouring countries is great," Olum told the US funded Al-Sabah daily.
Iraq began importing 13 million litres of fuel at a cost of $200
million per month after the downfall of former dictator Saddam Hussein in April 2003.
Iraq's imports, from Kuwait, Turkey and Iran are meant to meet a shortfall in domestic oil supplies and consequently to secure increasing local demand.
"Revenues of exported Iraqi crude to the world markets during September totalled $2.6-billion with exporting averages of 1.6-million barrels per day," Olum said. - Sapa-dpa
Link Here
Baghdad - About two million litres of fuel is being smuggled out of Iraq to neighbouring countries every day, Iraqi Oil Minister Ibrahim Mohammed Bahr al-Olum admitted in press remarks published Monday.
"Smuggling of oil derivatives is uncontrollable as the difference in prices in Iraq and neighbouring countries is great," Olum told the US funded Al-Sabah daily.
Iraq began importing 13 million litres of fuel at a cost of $200
million per month after the downfall of former dictator Saddam Hussein in April 2003.
Iraq's imports, from Kuwait, Turkey and Iran are meant to meet a shortfall in domestic oil supplies and consequently to secure increasing local demand.
"Revenues of exported Iraqi crude to the world markets during September totalled $2.6-billion with exporting averages of 1.6-million barrels per day," Olum said. - Sapa-dpa
Link Here
posted by Kangaroo Brisbane Australia at 1:57 PM
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