the week of 6 to 12 January, Iraqi oil exports under the United Nations
oil-for-food programme continued to register below average figures.
Through three oil loadings at Mina al-Bakr terminal, Iraq exported 4.7
million barrels of oil, raising an estimated €98 million
(euros) in revenue. There
have been no oil loadings at Ceyhan terminal this month, while there was only
a single loading in the month of December.
to the United Nations oil overseers, there was an estimated loss of $1 billion
in revenue, as a result of disrupted and reduced Iraqi oil exports under the
programme during the month of December only, with an additional estimated
revenue loss of $380 million in the first 10 days of January.
Iraq exported approximately 18 million barrels of crude oil in December
some 50 million barrels less than expected, while during the first 10
days of January, the exports were 22 million barrels below those anticipated.
current phase IX, running from 6 December through 3 June 2001, Iraq so far has
exported 22.4 million barrels of oil for an estimated €464 million (euros).
The US dollar was replaced with the euro for the Iraqi oil purchases in
early November 2000, at the request of the Government of Iraq and with the
authorization of the Security Council’s 661 sanctions committee for Iraq.
the week leading to 12 January, the oil overseers and the 661
Committee approved three new
contracts for the purchase of Iraqi oil, consisting of six million barrels of
Basrah Light crude destined for the United States, Far Eastern and European
markets and four million barrels of Kirkuk crude for the European and United
are now 68 approved oil purchase contracts for 128.6 million barrels of oil
awaiting completion, comprising almost 75 million barrels of Basrah Light and
53.6 million barrels of Kirkuk.
the start of the programme on 10 December 1996 Iraq has exported almost 2,229
million barrels of oil for an estimated total revenue of over $38.6 billion
and €464 million
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 Commission, 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
Previously, 66 per cent was being allocated to the humanitarian
programme, with the Compensation Commission receiving 30 per cent of the
Government of Iraq has not yet submitted its distribution plan for phase IX.
A distribution plan, once approved by the Secretary-General, becomes
the basis for the Government of Iraq to purchase humanitarian supplies and oil
industry spare parts and equipment during a given phase.
Office of the Iraq Programme (OIP) has now submitted for the approval of the
661 Committee the expanded lists of supplies in the education, water and
sanitation, food-handling, agricultural and health sectors, as required by
resolution 1330 (2000). Following
the approval of the Committee, the expanded lists will serve as the basis for
“fast track” contract processing by OIP.
The already existing lists, which came into effect in March 2000, have
proven to expedite the delivery of humanitarian supplies to Iraq.
The Committee’s action on all the expanded lists is expected by the
end of this month.
In phases IV to VIII, the Committee has now approved over
$10 billion worth of contracts for humanitarian supplies, while an additional
$3 billion worth have been “fast tracked” by OIP.
The Committee has also approved 2,345 contracts worth $1.27 billion for
the purchase of oil industry spare parts and equipment, with another 80
contracts, worth about $55 million have been approved under "fast
track" procedures by OIP.
As at 12 January, the total value of contracts placed on
hold by the 661 committee stood at over $3.1 billion ($2.7 billion for
humanitarian supplies and $407 million for oil industry spare parts and
equipment). This represents 17.5
per cent of all circulated contracts – a large increase in comparison with
the figures one month ago for “holds”, which comprised 14.9 per cent of
all circulated contracts to the Committee.
the week covered, the Committee released 14 contracts previously on hold worth
$152.8 million and placed 61 new contracts on hold worth $362.6 million.