(Bloomberg News/International Herald Tribune) - Wing-Gar Cheng Asian oil refiners are lining up to buy Iraqi crude, which may start flowing abroad again within weeks, according to a poll of six refiners and trading companies. "Basra Light is a very good crude.... Everyone would like to grab it," said Amit Mahajan, an independent oil analyst in Bombay. Iraq pumped an average 2.48 million barrels a day of crude oil in February, before the war. U.S. Vice President Dick Cheney has said Iraq may be able to pump as much as 3 million barrels of oil a day by the end of this year, and generate annual revenue of $20 billion. With less likelihood of disruption, oil companies in Japan, China, India, and South Korea hope to get a bigger share of those exports.
2003-04-25 00:00:00Full ArticleBACK Visit the Daily Alert Archive