Iraqi
oil exports under the United Nations oil-for-food programme continued to be
slow during the week of 30 December 2000 to 5 January 2001.
There was a single loading at Mina al-Bakr terminal with a volume of
1.8 million barrels of oil for an estimated value of $32 million.
There were no oil loadings at Ceyhan terminal.
The average price of Iraqi oil exported during this period was $19.6
per barrel.
In the current phase IX, which began on 6 December and ends on 3 June
2001, Iraq has exported 17.7 million barrels, earning an estimated $333
million in revenue.
The
United Nations oil overseers and the Security
Council’s 661 sanctions committee for Iraq
during this period approved four new contracts for the purchase of Iraqi oil,
consisting of six million barrels of Basrah Light destined for the United
States or Far Eastern markets and another six million barrels of Kirkuk crude
for the European or United States markets.
Currently,
there are 65 approved oil purchase contracts with a volume of 118.6 million
barrels of oil awaiting completion, comprising almost 69 million barrels of
Basrah Light and 49.6 million barrels of Kirkuk.
Since
the start of the programme on 10 December 1996 Iraq has exported a total of
over 2,224 million barrels of oil for an estimated revenue of more than $38.9
billion.
During
the week of 30 December 2000 to 5 January 2001, the Committee approved 36
contracts for humanitarian supplies and six contracts for the purchase of oil
spare parts and equipment. Another
eight humanitarian supply and one oil spare parts contracts were processed by
the Office of the Iraq Programme (OIP) under “fast track” procedures,
based on pre-approved lists of various types of supplies.
In
phases IV to VIII, the Committee has now approved almost $9.9 billion worth of
contracts for humanitarian supplies, while an additional $3 billion worth have
been “fast tracked” by OIP.
The Committee has also approved 2,344 contracts worth $1.27 billion for
the purchase of oil industry spare parts and equipment.
An additional 80 contracts, in this category, worth about $55 million
have been approved under "fast track" procedures by OIP.
As
at 5 January, the total value of contracts placed on hold by the 661 Committee
stood at over $2.9 billion, representing $2.6 billion for humanitarian
supplies and $349 million for oil industry spare parts and equipment
