Monday, May 05, 2014

Security Concerns for Iraq's Oil Infrastructure

In light of the recent conflicts in the area, the oil and gas industry in Iraq has suffered many transformations and it is clear that many of them have influenced the security of the country. Lately, the United States are said to have contributed with advice on security matters and oil infrastructure, mainly because there have been several attacks on pipelines. Baghdad authorities are making efforts to stabilize the economy, but the situation remains tense and there are still few optimistic prospects. The US Energy and State Department has announced a collaboration with Iraqi authorities, with a view to offer protection from frequent attacks in the area. It is a notable event, not only at a local scale, but also on a global one. Oil and gas companies all over the world have already picked up the news and are interested in finding out how this will affect their activity.

The official involved in this collaboration is deputy prime minister Hussein al-Shahristani, who has announced that foreign troops will help acquire oil equipment. Moreover, he said that these troops will protect pipelines in the north, which have reportedly been under terrorist attacks and oil installation in the area was delayed for this reason. After a period of growth, export levels diminished last year, the official cause for this being unfavorable weather conditions and improper maintenance. There have even been reports of bombing in the northern region and pomping was stopped. The aim of the agreement between Iraq and the USA is to protect these pipelines from similar attacks and also to ensure that they benefit from proper maintenance and safety of transport. In his speech, Hussein al-Shahristani stated that foreign troops will not be involved in the development of security plans.

Iraqi authorities have also announced earlier this year that they will take measures against the Kurd and Turk companies who have taken oil out of the country without the Iraq's authorization. The situation is definitely tense in the area, and the oil and gas industry will probably suffer even more changes in 2014. So far, this information is not readily available everywhere and those who want to stay up to date with everything that is happening will need more than the local daily news report. Fortunately, there are several online portals that offer daily information about the state of events in the oil industry, not only in key regions such as Iraq, but also around the world.

The situation is prone to social and political bias, which is why it is important to read the news from an objective news website. While not all sources might present inaccurate information, many will choose to omit some sides of the story, so you should keep that in mind when choosing your news portal. The conflict between the Kurds and the Iraqi officials is definitely one of the highlights in the Middle East and those who are interested in these events should definitely read daily updates. There are many sources of information online and apart from traditional news websites you can also find several blogs and specialized portals. Groshan Fabiola


LibrotecStar said...

Good article,

Thank you for the information.

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