Office of the Iraq Programme Oil for Food

8 August 2000

Oil-for-Food Background Information

Weekly update for the period 29 July to 4 August 2000

During the period 29 July to 4 August 2000 Iraq exported 14.9 million barrels of oil for revenue estimated around $353 million. The revenue generated from the beginning of phase VIII on 9 June is now around $2.56 billion.

Last week, the Security Council’s 661 Committee approved seven new contracts for the sale of Iraqi oil under phase VIII. This brings the total of approved contracts to 92 with a volume of over 368 million barrels (219.1 million Basrah Light and 149.3 million Kirkuk). Since the inception of the "oil for food" programme on 10 December 1996, Iraq has exported more than 1,937 million barrels with a value of approximately $31.6 billion.

For the first three 180 day phases the Security Council put a ceiling of two billion dollars on the value of oil which Iraq could export. From phase four onwards that ceiling began to be lifted and there is currently no limit to the value of oil Iraq is permitted to export.

In phases IV to VII, the 661 Committee approved $7.414 billion worth of contracts for humanitarian supplies and put contracts worth $1.455 billion on hold in the same period. In phases IV to VII, OIP received a total of 2,904 contracts worth $1.580 billion for the supply of oil industry spare parts and equipment. Of these contracts, the 661 Committee has approved 1,974 worth just over $1 billion and put 501, worth $278 million, on hold. The total value of contracts on hold in all sectors is now $1.733 billion.

Using the "fast track" process based on lists (see the OIP website for details) in the food, health, education, agriculture and oil sectors, the OIP has notified the Committee of 622 contracts worth $1.109 billion.

Humanitarian supplies and equipment for the oil industry continued to arrive normally during this period through the three land border points and at the Iraqi port of Umm Qasr. Arrivals included: 26,272 tonnes of rice, 13,164 tonnes of cooking oil, 1,277 tonnes of pulses, 25,821 tonnes of sugar, 2,222 tonnes of tea plus a range of medicines and pharmaceutical products. Other arrivals included truck engines, spare parts for solar generator, tyres, pipes, tubes, spare parts for gas turbines, garbage vehicles, rolls for flour mills and broiler hatching eggs.

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Produced for media and public information – not an official United Nations Document
For further information please contact Hasmik Egian, OIP - NY, 1.212.963.4341

Oil-for-Food Background Information		Weekly update for the period 29 July to 4 August 2000 During the period 29 July to 4 August 2000 Iraq exported 14.9 million barrels of oil for revenue estimated around $353 million. The revenue generated from the beginning of phase VIII on 9 June is now around $2.56 billion. Last week, the Security Council’s 661 Committee approved seven new contracts for the sale of Iraqi oil under phase VIII. This brings the total of approved contracts to 92 with a volume of over 368 million barrels (219.1 million Basrah Light and 149.3 million Kirkuk). Since the inception of the "oil for food" programme on 10 December 1996, Iraq has exported more than 1,937 million barrels with a value of approximately $31.6 billion. For the first three 180 day phases the Security Council put a ceiling of two billion dollars on the value of oil which Iraq could export. From phase four onwards that ceiling began to be lifted and there is currently no limit to the value of oil Iraq is permitted to export. In phases IV to VII, the 661 Committee approved $7.414 billion worth of contracts for humanitarian supplies and put contracts worth $1.455 billion on hold in the same period. In phases IV to VII, OIP received a total of 2,904 contracts worth $1.580 billion for the supply of oil industry spare parts and equipment. Of these contracts, the 661 Committee has approved 1,974 worth just over $1 billion and put 501, worth $278 million, on hold. The total value of contracts on hold in all sectors is now $1.733 billion. Using the "fast track" process based on lists (see the OIP website for details) in the food, health, education, agriculture and oil sectors, the OIP has notified the Committee of 622 contracts worth $1.109 billion. Humanitarian supplies and equipment for the oil industry continued to arrive normally during this period through the three land border points and at the Iraqi port of Umm Qasr. Arrivals included: 26,272 tonnes of rice, 13,164 tonnes of cooking oil, 1,277 tonnes of pulses, 25,821 tonnes of sugar, 2,222 tonnes of tea plus a range of medicines and pharmaceutical products. Other arrivals included truck engines, spare parts for solar generator, tyres, pipes, tubes, spare parts for gas turbines, garbage vehicles, rolls for flour mills and broiler hatching eggs.
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