Sun, Sep 14, 2003 - Page 11 News List

Bush wants more cash for Iraqi oil

NY TIMES NEWS SERVICE , NEW YORK

Iraq, which has the third-largest oil reserves in the world, after Saudi Arabia and Canada, has been importing petroleum products since late May.

The Corps of Engineers has also spent more on oil reconstruction than it originally envisioned, largely because of the sabotage, said Scott Saunders, a spokesman. In early summer, the Corps of Engineers had estimated that it would need to spend about US$650 million on repairs to the Iraqi oil industry.

But as of early September, it had already spent US$948 million as part of a continuing contract with Halliburton. Aspects of this increase were reported on Friday by The Wall Street Journal.

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