Thomko Petro Chemical Blog

Gasoline lines in Iraq pictured below

Iraq's oil construction progress has remained hampered by the volatile security situation, corruption and poor project implementation needed to build crude output to sustainable pre-war levels, the US agency responsible for auditing US-led Iraqi reconstruction said in a report published Monday.

"The volatile security situation and limited provisions for sustainment continue to be challenges for developing the sector," the Office of the Special Inspector General for Iraq Reconstruction, said in its July quarterly Report.

"Corruption threatens not only Iraq's capacity to fund new capital investments but also its ability to sustain and increase production," the SIGIR report said.

SIGIR said 95% of US funds for the oil sector had been allocated but only 60% used.

During this reporting period, $180 million was spent, bringing the cumulative total spent on oil infrastructure to $1 billion.

That's our tax dollars folkes!