Iraq resumes oil exploration after 20-year break
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Iraq said today it was resuming exploration of its immense oilreserves after a break of nearly 20 years due to crippling UNsanctions, saying it hopes to double its proven deposits of crude. (Sydney Morning Herald — 6 hours ago)
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Iraq’s oil income will more than double this year, even as Baghdad continues to spend only a small percentage of its own money on reconstruction and services while it banks billions in surplus funds, according to projections by U.S. government auditors.
(Washington Post — 6 August, 2008)
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The soaring price of oil will leave the Iraqi government with a budget surplus, an American analysis concluded. (New York Times — 6 August, 2008)
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The oil market has produced a bonanza for Iraq. Now it is time for the country to spend its own money on reconstruction. (New York Times — 2 hours ago)
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BAGHDAD, Aug 4 — Roadside bombs killed two American soldiers and wounded a third Monday as their patrol drove through eastern Baghdad, the U.S. military said.
(Washington Post — 5 August, 2008)
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