Iraqi Oil Exports delayed from both North and South
AFP reports delays in Iraq oil exports in both the north and the south of the country.
Although exports are up to pre-war levels, it should be remembered that the 2.8 million barrels a day typical of the pre-war period were very low in comparison to Iraq’s capacity, and that they don’t generate enough for the government to run the country properly.
Meanwhile, Jubilee Iraq reckons that the country is saddled with $300 bn. in debt and reparations from the Saddam period, a crushing burden that could delay the country’s re-development if there is not substantial debt forgiveness.