Iraq Southern Oil Exports Still Cut By Half

BASRA, Iraq, Aug 17 (AFP) - Export of crude from Iraq`s southern oil terminals have been cut by half for a week now because of threats to infrastructure from Shiite militia, an oil company official said Tuesday.
"One of the two pipelines is closed for security reasons and pumping stands at around 36-42,000 barrels an hour", against 80,000 normally, the official of the Southern Oil Company told AFP.
Of this amount, 25,000 barrels are going to the port of Basra and the 15-17,000 to the terminal of Khor al-Amaya, the offical said, adding that one tanker was loading at Basra and three waiting.
Another tanker was loading at Khor al-Amaya, he added.
According to the government, the reduction in exports is costing Iraq some 80 million dollars a day.
The threats from the militia of radical Shiite cleric Moqtada Sadr have also contributed to soaring oil prices on world markets.