Posted on 04/03/2003 3:07:09 AM PST by kattracks
Developments in Iraq's Oil Fields
.c The Associated Press
THE OIL FIELDS: Firefighters in the Rumeila South oil field were pumping water into man-made lagoons on Thursday, preparing to again attack the two remaining fires at oil wells. Teams from Boots & Coots International Well Control and the Kuwait Oil Co. failed to put out the blazes earlier this week because they lacked sufficient water. Both teams then gave up using water tanks and instead dug lagoons to hold more water.
They expected to be ready to battle the fires on Friday, said Aisa Bouyabes, the Kuwaiti team leader.
Rumeila South, just north of the Kuwait-Iraq border, is one of Iraq's biggest oil fields. The number of oil well fires there has dwindled to two from seven.
Once the last fires are beaten, the American firefighters plan to replace damaged well heads. Then they expect to move on to other oil fields, including some near Basra, Iraq's No. 2 city, and eventually to the northern oil center of Kirkuk.
The other fields in southern Iraq have yet to be fully secured by U.S. and British troops, and oil fields in northern Iraq are still largely under Iraqi control.
THE MARKET: Crude oil futures were mixed Thursday. On London's International Petroleum Exchange, North Sea Brent futures for May delivery rose 9 cents a barrel to $25.30. Brent crude for May closed $1.15 lower on Wednesday at $25.21 a barrel.
On the New York Mercantile Exchange, the May contract for U.S. light, sweet crude slipped 33 cents to $28.23 a barrel in after-hours, electronic trading. On Wednesday, U.S. crude futures for May delivery closed $1.22 lower at $28.56 a barrel.
04/03/03 05:54 EST
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