RealNews

Iraq oil hit by graft and attacks

Iraq’s oil industry is being crippled by corruption at a time when insurgents have stepped up attacks on the nation’s infrastructure, a report has claimed. The Oil Ministry’s inspector general Ali al-Alaak said graft and smuggling are the main threat to Iraq’s economy. He called on policymakers to better protect infrastructure such as pipelines and catch corrupt officials. Iraq has the world’s third-largest oil reserves and the revenue from its sale is needed to rebuild the country. Full Story

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