Iraq Pipelines Hit, Export Flows Hold
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Saboteurs kept up relentless attacks on Iraq&#39;s oil production system on Saturday, hitting pipelines in the north and south that disrupted internal supply, oil officials said.
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Oil prices dipped below $44 per barrel Thursday, but attacks on 20 pipelines in Iraq signal another spike.
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BAGHDAD  - Sabotage has failed to hurt Iraq&#39;s oil exports, Iraqi Oil Minister Thamer Abbas Ghadbane said, though he acknowledged that attacks had hurt oil distribution to domestic markets.
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Oil prices tumbled below $47 on  Monday after OPEC producers agreed to keep crude output  unchanged for now and Iraq's elections passed without  disruption to oil exports.
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Insurgents attacked eight oil pipelines in southern Iraq late Wednesday, temporarily slowing production of the country&#39;s most important export on Thursday, according to
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World oil prices skidded on Monday as Iraq pumped oil through its southern pipelines and Russia vowed to step up exports, but analysts said the days of high prices were not yet over.
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One official in the North Oil company announced on Tuesday that one oil pipeline linking northern Iraq with Turkey was exposed to an attack that resulted in halting exports to Turkey.
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A sabotage attack on a cluster of about 20 oil pipelines in southern Iraq has cut exports from the key oil producing region by half, a top oil official said Thursday.
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A senior Iraqi official says oil exports have been halted because of several recent attacks on pipelines. The official with South Oil Company, who doesn&#39;t want to be named, says the country&#39;s key southern
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Iraq's oil exports are still flowing at one million barrels per day through southern terminals despite an attack on the South Oil Company headquarters on Thursday, an oil official at the company said.
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Insurgents attacked two oil pipelines in northern Iraq on Tuesday, halting oil exports from there to Turkey and forcing a power station to be shut down, police and officials said.
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World oil prices have fallen strongly for the second day running as worries over supply disruptions eased, with traders claiming overnight pipeline attacks in Iraq were unlikely to affect the country&#39;s crude exports.
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Oil prices held firm Friday after pipeline sabotage in northern Iraq kept up supply fears that have revived a powerful price rally.
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Oil exports from southern Iraq have come to a complete halt because of attacks on pipelines and are not likely to resume for at least a week, a senior Iraqi oil official said Monday.
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Exports from Iraq's northern oil fields are back to normal after a spate of attacks earlier this month that crippled a key pipeline, the state-run Northern Oil Co. said Tuesday.
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The price of oil slid toward $42 a barrel yesterday despite confusion about the status of Iraqi exports, indicating the market has become less worried about the global balance of supply and demand.
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Iraqi oil officials said yesterday that insurgents blew up a cluster of pipelines in southern Iraq, though they said they did not expect oil exports to be significantly reduced.