Office of the Iraq Programme Oil for Food

29 June 1999

Oil-for-Food Background Information

Update for the period 12 to 25 June 1999

During the two weeks to 25 June 1999 Iraq exported a total of 30.7 million barrels of crude oil for an estimated revenue of $437 million dollars. Since oil exports under Phase VI began on 1 June there have been 45.3 million barrels exported for an estimated revenue of $647 million. To date, about 50 per cent of loadings have been made at Ceyhan.

The oil overseers and the Security Council's 661 Committee have approved a further 17 contracts for the export of Iraqi oil. This brings the total contracts approved to 63 with a volume of 315.1 million barrels (179.5m Basrah Light, 135.6m Kirkuk). Another 13 contracts are pending.

The distribution plan for Phase VI was approved by the Secretary-General on 11 June and contracts under this Phase are expected to start arriving shortly. Meanwhile, the Office of the Iraq Programme has not yet received contracts under Phase VI but continues to receive and process contracts for payment from the revenues in Phase IV and V.

So far $1.54 billion worth of contracts for humanitarian supplies have been approved under Phase IV and $1.288 billion under Phase V. There are $94.8 million dollars worth of humanitarian supplies on hold in Phase IV and $241.2 million on hold in Phase V.

The 661 Committee has approved $240.7 million worth of oil spare parts and equipment in Phase IV and put $34.6 million on hold. For Phase V $45.8 million in oil sector equipment has been approved and $59.9 million is currently on hold. (note: full listing of humanitarian and oil sector contracts and their current status)

Goods purchased under the programme continued to arrive normally. Arrivals included: 6,600 tonnes of pulses, 1104 tonnes of tea, 5500 tonnes of cooking oil and 2800 tonnes of powdered infant formula. Other arrivals included various pharmaceuticals, trucks and spare parts; school desks, excavators and spare parts, equipment for repairing power stations, chlorine gas and oil industry spare parts and equipment.

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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		Update for the period 12 to 25 June 1999 During the two weeks to 25 June 1999 Iraq exported a total of 30.7 million barrels of crude oil for an estimated revenue of $437 million dollars. Since oil exports under Phase VI began on 1 June there have been 45.3 million barrels exported for an estimated revenue of $647 million. To date, about 50 per cent of loadings have been made at Ceyhan. The oil overseers and the Security Council's 661 Committee have approved a further 17 contracts for the export of Iraqi oil. This brings the total contracts approved to 63 with a volume of 315.1 million barrels (179.5m Basrah Light, 135.6m Kirkuk). Another 13 contracts are pending. The distribution plan for Phase VI was approved by the Secretary-General on 11 June and contracts under this Phase are expected to start arriving shortly. Meanwhile, the Office of the Iraq Programme has not yet received contracts under Phase VI but continues to receive and process contracts for payment from the revenues in Phase IV and V. So far $1.54 billion worth of contracts for humanitarian supplies have been approved under Phase IV and $1.288 billion under Phase V. There are $94.8 million dollars worth of humanitarian supplies on hold in Phase IV and $241.2 million on hold in Phase V. The 661 Committee has approved $240.7 million worth of oil spare parts and equipment in Phase IV and put $34.6 million on hold. For Phase V $45.8 million in oil sector equipment has been approved and $59.9 million is currently on hold. (note: full listing of humanitarian and oil sector contracts and their current status) Goods purchased under the programme continued to arrive normally. Arrivals included: 6,600 tonnes of pulses, 1104 tonnes of tea, 5500 tonnes of cooking oil and 2800 tonnes of powdered infant formula. Other arrivals included various pharmaceuticals, trucks and spare parts; school desks, excavators and spare parts, equipment for repairing power stations, chlorine gas and oil industry spare parts and equipment.
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