Kirkuk Oilfield Two wells at the Khabaz oilfield near Kirkuk, in northern Iraq, sabotaged by ISIS last week are still on fire, with production suspended and losses amounting to some 4,000 barrels per day, as estimated by reports from local officials. Officials are stressing that even once the fire is under the control, the wells could be beyond repair. The Khabaz oilfield is some 20 kilometers southwest of Kirkuk and hosts 41 oil wells. The field is run by the state-owned North Oil Company, which has its own police force and belongs to the Iraqi government. A month ago, a similar attack took out other wells in this field. All the wells at the oilfield have a total production capacity of 15,000 barrels per day. Before the attack, production was already down to 10,000 bpd. Related: Proved Oil Reserves Lost $840 Billion In Value On 5 May, gunmen used […]