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Saboteurs Halt Oil Exports In Southern Iraq

30 August 2004 -- Oil exports from southern Iraq have completely ceased following a series of pipeline attacks by saboteurs.

Two senior officials from the South Oil Company, speaking on condition of anonymity today, said oil flows had completely ceased late yesterday and were not likely to resume for at least a week.

Oil from southern Iraq accounts for 90 percent of the country's oil exports.

Iraq's interim Prime Minister Iyad Allawi told CNN that the pipeline sabotage leads to "a great loss for the Iraqi people" in terms of the revenues needed for reconstructing the country.

A halt in southern oil exports costs Iraq about $60 million a day at current prices.