Low Graphics Site

 






|
|
|
|
September 25, 2003
|
Thursday
|
Rajab 27, 1424
|
Special force to protect oil
WASHINGTON, Sept 24: The Bush administration plans to create a special force to protect Iraq’s oil industry and to deploy a rapid-reaction team to repair pipelines after terrorist attacks.
The administration also plans to provide “continuous personal security” to Iraq’s minister of oil and his directors-general.
The administration said providing personal security to oil officials — at an estimated the cost at eight million dollars — was a “critical requirement”, noting that “the life of one of the director-generals was threatened as recently as late August”.
These and other oil industry initiatives were included in the White House’s massive, 20.3 billion dollars reconstruction request for Iraq, which must still be approved by the US Congress.
Administration officials are counting on increased oil production to help pay for Iraq’s long-term reconstruction.
But according to the documents, Iraq is poised for a turnaround.
The administration expects 575 million dollars in proposed infrastructure repairs to boost oil production by 20pc, while new oil fields in the north and south would produce at least 250,000 barrels per day of oil.—Reuters
|