Iraq Oil Infrastructure Losing Billions

Between August and October, Iraq lost $7 billion dollars in potential revenues due to sabotage against the country’s oil infrastructure, according to Assem Jihad, spokesman of the Oil Ministry.

An estimated 20 oil wells and pipelines were bombed or set ablaze this month in northern Iraq alone, according to an official of the Northern Company. Iraq has oilfields in the north around Kirkuk and in the south near Basra.

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