Attacks on oil installations cost billions of dollars

Iraq is losing up to 400,000 barrels of oil a day due to attacks targeting its oil infrastructure, a senior oil ministry official said. Assem Jihad, the ministry’s spokesman, said at current high prices on international markets the loss is massive as it amounts to billions of dollars a year. Jihad said there were 159 major attacks on oil installations in 2006, about one attack every other day. Most of the attacks targeted the country’s pipelines, he said...

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