Iraq Zubair 1 Export Pipeline Up, Running Normally

March 28, 2008 (Dow Jones Newswires)

A senior South Oil Co. official said Friday Iraqi maintenance teams have managed to repair the bomb-damaged Zubair 1 oil export pipeline and crude oil flow has resumed at a normal rate.

"Our technicians have completed repairing the damaged pipeline this afternoon," the official told Dow Jones Newswires by telephone from Basra.

A shipping agent near Basra terminal from where Iraq exports the bulk of its crude oil said that normal export levels had been restored at the port but didn't give figures.

"Every thing is back to normal," the agent said, adding, there were two vessels loading and that two others were at anchor waiting to load - a sign of business as usual.

The 42-inch repaired pipeline is one of two key pipelines that pump crude oil from the Zubair pumping station to Iraq's primary oil export terminal.

Earlier in the day, the rate of Iraq's crude oil exports from the terminal at Basra was still below normal levels, a pair of shipping agents said.

The loading rate earlier Friday was 50,000 barrels an hour, or 1.2 million barrels a day which was below the normal level of 65,000-70,000 barrels an hour, or 1.56 million-1.68 million barrels a day.

March 28, 2008 (Dow Jones Newswires)