Iraqi oil exports were up considerably during the week of 10
to 16 February under the United Nations oil-for-food programme. 10.8 million
barrels of oil were lifted through six loadings - four at Ceyhan and two at
Mina al-Bakr - raising an estimated
€254
million (euros) in revenue.
In current phase IX, running from 6 December 2000 to 3 June
2001, Iraq so far has exported 66.1 million barrels of oil, earning over
€1.47
billion (euros) at current prices. Cumulatively,
a total of 2,272 million barrels of oil have been exported since the beginning
of the programme on 10 December 1996, for an estimated revenue of $38.6
billion and €1.47 billion
(euros).
With the adoption of Security Council resolution 1330 (2000)
on 5 December 2000, in current phase IX, around 72 per cent of the oil revenue
funds the humanitarian programme in Iraq, 25 per cent goes to the Compensation
Fund, while 2.2 per cent covers the United Nations costs for administering the
programme and 0.8 per cent for the administration of the UN Monitoring and
Inspection Commission (UNMOVIC). Previously, 66 per cent was being allocated
to the humanitarian programme, with the Compensation Fund receiving 30 per
cent of the funds.
Two new contracts were approved by the United Nations oil
overseers and the Security Council’s 661 sanctions
Committee during the week for the purchase of two million barrels each
of Kirkuk crude and Basrah Light to Qatar- and Cyprus-registered companies.
Currently, there are 103 approved contracts for the lifting of over 262
million barrels of oil, comprising 157.4
million barrels of Basrah Light and 104.6 million barrels of Kirkuk.
Also last week, as required by resolution 1330 (2000), the
Committee approved the further enlargement of the existing lists of
“pre-approved” supplies in several sectors for “fast track” processing
by the Office of the Iraq Programme (OIP). Over 700 items have been added to
the existing list of supplies in the health sector, 315 items in education,
345 in agriculture, 929 in food-handling, 370 in water and sanitation.
Regrettably, the Committee did not include human immunization vaccines in the
“pre-approved” list in the health sector, despite the urging for their
inclusion by OIP.
In phases IV to VIII, the Committee has now approved over
$11 billion worth of contracts for humanitarian supplies, while an additional
$3.1 billion worth of contracts have been processed by OIP under “fast
track” procedures. The Committee has also approved 2,372 contracts worth
more than $1.28 billion for the purchase of oil industry spare parts and
equipment. OIP has “fast tracked” another 98 contracts worth $63 million
in this category.
The total value of contracts placed on hold by the 661
Committee as at 16 February was $3.28 billion, representing 17 per cent of the
value of all contracts circulated to the Committee. Of this total, over $2.8
billion was for humanitarian supplies and $436 million for oil industry spare
parts and equipment.
During the week, 19 contracts worth $59.5 million were
released from hold, while 58 new contracts worth $154.1 million were put on
hold for various reasons.
