Economic Update – Baghdad
An authoritative source has reported that over 30 oil wells in Basra and the southern governorates have ceased operations due to ongoing power outages.
According to the source, a total of 35 wells have stopped functioning, resulting in a production loss of approximately 57,000 barrels of oil per day. These wells rely on submersible pumps, and efforts are underway to mitigate the impact by activating backup generators.
The southern governorates have experienced a complete electricity shutdown since early Thursday morning, attributed to increased power generation that caused a fault in the Maysan-400 to Wasit transmission line.
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