Office of the Iraq Programme Oil for Food

5 July 2000

Oil-for-Food Background Information

Oil Sale Revenue Exceeds $1 Billion Under Phase VIII

During the period 24 to 30 June Iraq exported 10.4 million barrels of oil for revenue estimated around $282 million. The revenue generated from the beginning of Phase VIII on 9 June is estimated around $1.068 billion. Since the inception of the programme on 10 December 1996, Iraq has exported more than 1.871 billion barrels with a value of more than $30 billion.

Last week the Security Council 661 Committee approved 18 new contracts for the sale of Iraqi oil under phase VIII. This brings the total of approved contracts to 19 with a volume of around 158 million barrels (95.121m Basrah Light and 63.166m Kirkuk).

Since the accelerated procedures for the approval of contracts for humanitarian supplies for Iraq came into force on 1 March 2000, the Office of the Iraq Programme (OIP) has notified the 661 Committee of 511 applications, worth $1.037 billion. These contracts are for items on the lists approved by the Committee in the food, health, education and agriculture sectors. In line with paragraph 8 of Security Council resolution 1302 (2000), OIP is also preparing a list of basic water and sanitation supplies which will not require circulation to the 661 Committee for approval.

Over the past week OIP has received 11 contracts deemed to include possible dual-use items affected by the provisions of resolution 1051 (1996). The total of applications under this category in phases IV through VII is now 141.

The 661 Committee has approved $6.905 billion dollars worth of contracts for humanitarian supplies in phases IV to VII and put $1.203 billion on hold for the same period. In phases IV to VII, OIP has received a total of 2,726 contracts worth $1.513 billion for the supply of oil industry spare parts and equipment. Of these contracts, the 661 Committee has approved 1,826 worth $947.857 million and put 502, worth $277.701 million, on hold. The total value of contracts on hold in all sectors is now $1.481 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: 81,989 tonnes of wheat, 12,885 tonnes of rice, 14,619 tonnes of sugar 7,434 tonnes of cooking oil, 2,484 tonnes of pulses, nearly 4,000 tonnes of infant formula milk, 3,654 tonnes of detergents plus a range of medicines and pharmaceutical products. Other arrivals included school furniture, mobile x-ray unit, aluminum sulphate and fire alarm control panel.

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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		Oil Sale Revenue Exceeds $1 Billion Under Phase VIII During the period 24 to 30 June Iraq exported 10.4 million barrels of oil for revenue estimated around $282 million. The revenue generated from the beginning of Phase VIII on 9 June is estimated around $1.068 billion. Since the inception of the programme on 10 December 1996, Iraq has exported more than 1.871 billion barrels with a value of more than $30 billion. Last week the Security Council 661 Committee approved 18 new contracts for the sale of Iraqi oil under phase VIII. This brings the total of approved contracts to 19 with a volume of around 158 million barrels (95.121m Basrah Light and 63.166m Kirkuk). Since the accelerated procedures for the approval of contracts for humanitarian supplies for Iraq came into force on 1 March 2000, the Office of the Iraq Programme (OIP) has notified the 661 Committee of 511 applications, worth $1.037 billion. These contracts are for items on the lists approved by the Committee in the food, health, education and agriculture sectors. In line with paragraph 8 of Security Council resolution 1302 (2000), OIP is also preparing a list of basic water and sanitation supplies which will not require circulation to the 661 Committee for approval. Over the past week OIP has received 11 contracts deemed to include possible dual-use items affected by the provisions of resolution 1051 (1996). The total of applications under this category in phases IV through VII is now 141. The 661 Committee has approved $6.905 billion dollars worth of contracts for humanitarian supplies in phases IV to VII and put $1.203 billion on hold for the same period. In phases IV to VII, OIP has received a total of 2,726 contracts worth $1.513 billion for the supply of oil industry spare parts and equipment. Of these contracts, the 661 Committee has approved 1,826 worth $947.857 million and put 502, worth $277.701 million, on hold. The total value of contracts on hold in all sectors is now $1.481 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: 81,989 tonnes of wheat, 12,885 tonnes of rice, 14,619 tonnes of sugar 7,434 tonnes of cooking oil, 2,484 tonnes of pulses, nearly 4,000 tonnes of infant formula milk, 3,654 tonnes of detergents plus a range of medicines and pharmaceutical products. Other arrivals included school furniture, mobile x-ray unit, aluminum sulphate and fire alarm control panel.
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