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SAUDI ARABIA - Saudi Aramco''s Marketing Strategy, Cont''d From OMT - The Iraq Factor & P/L.

Publication: APS Review Gas Market Trends
Publication Date: 13-OCT-03 		Format: Online - approximately 1077 words
Delivery: Immediate Online Access

Article Excerpt
the US, would reclaim both the pipeline and the terminal of Al Moajiz. Saddam's regime did contest the Saudi seizure in 2001. This Iraq factor, in fact, is becoming a major issue as US-controlled Baghdad wants to begin a massive reconstruction programme as soon as possible, with plans to raise the country's oil export potential to the maximum and at top speed.

Iraq is re-routing crude oil supplies around sabotaged pipelines, so that exports would soon recover closer to pre-war levels. The plan is to divert crude oil from the Kirkuk field, in northern Iraq, through a strategic central pipeline to the south. This confirms fears that the damage inflicted on the pipeline to Turkey is greater than previously admitted. It also helps explain the surprise decision taken by OPEC oil ministers on Sept. 24 to cut production by 900,000 b/d from Nov. 1 (see OMT), partly due to worries that rising Iraqi output would force crude oil prices down....

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More articles from APS Review Gas Market Trends
SAUDI ARABIA - Key members of the Saudi Aramco Executive Management., October 27, 2003
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SAUDI ARABIA - The Saudi Sales Terms., October 13, 2003
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