Oil majors cut staff in Iraq on fears violence will spread

June 17, 2014 6:09 PM

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Oil majors cut staff in Iraq on fears violence will spread

MOSCOW/NEW DELHI (Reuters) - Some oil companies are pulling foreign staff from Iraq, fearing Sunni militants from the north could strike at major oilfields concentrated in the Shi'ite south despite moves by the Baghdad government to tighten security.

Iraqi officials say the southern regions that produce some 90 percent of the country's oil are completely safe from the Islamic State of Iraq and the Levant (ISIL), which has seized much of the north in a week as Baghdad's forces there collapsed.

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