Showing posts with label Iraqi Oil Fields. Show all posts
Showing posts with label Iraqi Oil Fields. Show all posts

Tuesday, September 30, 2008

Iraqi Oil Fields

Iraqi oil fields: Iraq's proven oil reserves of 112 billion barrels are the world's second largest, behind Saudi Arabia.

Lack of investment and restrictions on imports of machinery and technology have taken their toll on the oil industry � which was battered during the Gulf War.

Under the UN's oil-for-food programme Iraq has only been allowed to export oil if the profits are spent on humanitarian supplies.