Office of the Iraq Programme Oil for Food

25 January 1999

Oil-for-Food Background Information

Weekly Update for 16 to 22 January 1999

In the reporting period from 16 to 22 January, the oil overseers report that there were 17.5 million barrels of oil exported in 16 loadings from Iraq with estimated value of $164 million. The overseers estimate the revenue generated since the beginning of Phase V on November 26, 1998 to be around $882 million.

There were two additional contracts for the export of oil approved. One went to an Italian company to export 3 million barrels of Kirkuk crude to Europe and another to a United Kingdom company. This contract involved two million barrels of Basrah Light for the USA and Europe and two million barrels of Kirkuk Crude to Europe.

The overseers have now approved 74 contracts for the export of 269,300,000 barrels (135.4 m Basrah Light, 133.9m Kirkuk).

In the past week, the Security Council's 661 Committee approved 38 contracts for $25,305,098 worth of oil spare parts and equipment. Of these 34 were released from hold worth $8,682,837. The total number of contracts approved so far is 302 for

$165,962,399.

Seven more oil sector contracts worth $ 4,149,819 were received by OIP last week. The total number of contracts received is now 486 for a total value of $264,596,794. The Committee put no oil industry contracts on hold last week. There are currently 107 contracts on hold with a value of $43,301,690.

As at 19 January the 661 Committee had approved, under Phase IV, $968.1 million of food contracts out of $969.7 million circulated; $141.6 million worth of health sector contracts out of $204 million circulated. Overall, the Committee has approved contracts for the import of $1651 million dollars worth of humantarian supplies and oil industry equipment and put on hold contracts worth $134.6 million dollars.

Humanitarian supplies continued to enter Iraq normally. At Umm Qasr 24,020 tonnes of wheat; 15,420 tonnes of rice and 14,250 tonnes of sugar arrived, along with consignments of iodized salt, infant formula and detergents. At the Trebil border point arrivals included portions of contracts for three milllion broiler hatching eggs from Jordan, 40 combine harvesters and associated equipment from Italy and 900 tonnes of cheese portions from Egypt.

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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		Weekly Update for 16 to 22 January 1999 In the reporting period from 16 to 22 January, the oil overseers report that there were 17.5 million barrels of oil exported in 16 loadings from Iraq with estimated value of $164 million. The overseers estimate the revenue generated since the beginning of Phase V on November 26, 1998 to be around $882 million. There were two additional contracts for the export of oil approved. One went to an Italian company to export 3 million barrels of Kirkuk crude to Europe and another to a United Kingdom company. This contract involved two million barrels of Basrah Light for the USA and Europe and two million barrels of Kirkuk Crude to Europe. The overseers have now approved 74 contracts for the export of 269,300,000 barrels (135.4 m Basrah Light, 133.9m Kirkuk). In the past week, the Security Council's 661 Committee approved 38 contracts for $25,305,098 worth of oil spare parts and equipment. Of these 34 were released from hold worth $8,682,837. The total number of contracts approved so far is 302 for $165,962,399. Seven more oil sector contracts worth $ 4,149,819 were received by OIP last week. The total number of contracts received is now 486 for a total value of $264,596,794. The Committee put no oil industry contracts on hold last week. There are currently 107 contracts on hold with a value of $43,301,690. As at 19 January the 661 Committee had approved, under Phase IV, $968.1 million of food contracts out of $969.7 million circulated; $141.6 million worth of health sector contracts out of $204 million circulated. Overall, the Committee has approved contracts for the import of $1651 million dollars worth of humantarian supplies and oil industry equipment and put on hold contracts worth $134.6 million dollars. Humanitarian supplies continued to enter Iraq normally. At Umm Qasr 24,020 tonnes of wheat; 15,420 tonnes of rice and 14,250 tonnes of sugar arrived, along with consignments of iodized salt, infant formula and detergents. At the Trebil border point arrivals included portions of contracts for three milllion broiler hatching eggs from Jordan, 40 combine harvesters and associated equipment from Italy and 900 tonnes of cheese portions from Egypt.
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