Saboteurs hit Iraq oil industry in new threat to stability

SABOTEURS have struck a new blow to Iraq's vital oil industry, cutting exports to a third of their previous level. Oil Minister Thamir Ghadhban confirmed blasts at a pipeline which fed storage tanks at Basra oil terminal in the Gulf.

"There were two sabotage cases. We are assessing the situation," he said.

Shippers in the region said export rates had fallen below 500,000 barrels per day (bpd) from about 1.7 million bpd. Some later said exports from Basra were at a complete halt. An Iraqi industry official said repairs could take seven to 10 days.