NICOSIA, April 12: There is little chance of Iraq resuming crude oil exports before June despite the industry emerging relatively unscathed from the US-led war, the Middle East Economic Survey (MEES) survey reports Monday.
MEES soundings indicate there is little prospect of Iraqi crude oil exports resuming before June with administrative and legal obstacles — in Baghdad and at the UN in New York — still needing to be cleared, the industry specialist says in its latest edition.
On the face of it, Iraq’s oil sector thus far in the war has escaped lightly, both in the south and the north, the Nicosia-based weekly notes.
The first priority is to set up an oil sector administration in Baghdad. Until this happens there will be no logistical or legal framework for companies to lift Iraqi crude.—AFP
