Office of the Iraq Programme Oil for Food

10 May 1999

Oil for Food Background Information

Weekly Update 1 May to 7 May 1999

During the week to 7 May 1999, Iraq exported 14.4 million barrels of oil with an estimated value of $208 million. This brings the revenue from the export of oil since the beginning of Phase V on 26 November 1998 to about $3367 million. Phase V ends on 24 May 1999.

During Phase V, Iraq has exported an average of 1.94 million barrels of oil each day for an average revenue per barrel of $10.65. The average price per barrel over the past week was $14.44.

There were no new contracts submitted or approved for the export of Iraqi oil. To date the Security Council's 661 Committee and the oil overseers have approved 96 contracts for the export of 362,850,000 barrels of oil (205.6m Basrah and 157.25m Kirkuk).

The Office of the Iraq Programme continues to receive applications for the import of spare parts and equipment for Iraq's oil industry. During the past week, the OIP received 40 additional contracts for a total of 744 contracts under Phase IV and V with a total value of $416,603,955. To date the 661 Committee has approved 469 contracts worth $260,226,584 and placed 132 on hold worth $51,079,887. (see list of contract applications for the oil sector - Phase V)

As of 7 May 1999, the OIP had received 773 contracts for humanitarian supplies worth $1.56 billion and the Committee had approved 638 worth $1.151 billion and placed 71 on hold worth $81.84 million. (see list of Phase V humanitarian contract applications)

Since the first arrivals of humanitarian supplies in March 1997 a total of 10 million tonnes of foodstuffs worth $3.26 billion and $594 million worth of medicines and health supplies have arrived in Iraq.

In the past week, arrivals included 66 thousand tonnes of wheat, 2450 tonnes of detergents and soap, surgical materials, hepatitis and other vaccines, copybooks for primary schools, school desks, pumps and accessories, cesspool emptying tanks and liquified chlorine gas.

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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 1 May to 7 May 1999 During the week to 7 May 1999, Iraq exported 14.4 million barrels of oil with an estimated value of $208 million. This brings the revenue from the export of oil since the beginning of Phase V on 26 November 1998 to about $3367 million. Phase V ends on 24 May 1999. During Phase V, Iraq has exported an average of 1.94 million barrels of oil each day for an average revenue per barrel of $10.65. The average price per barrel over the past week was $14.44. There were no new contracts submitted or approved for the export of Iraqi oil. To date the Security Council's 661 Committee and the oil overseers have approved 96 contracts for the export of 362,850,000 barrels of oil (205.6m Basrah and 157.25m Kirkuk). The Office of the Iraq Programme continues to receive applications for the import of spare parts and equipment for Iraq's oil industry. During the past week, the OIP received 40 additional contracts for a total of 744 contracts under Phase IV and V with a total value of $416,603,955. To date the 661 Committee has approved 469 contracts worth $260,226,584 and placed 132 on hold worth $51,079,887. (see list of contract applications for the oil sector - Phase V) As of 7 May 1999, the OIP had received 773 contracts for humanitarian supplies worth $1.56 billion and the Committee had approved 638 worth $1.151 billion and placed 71 on hold worth $81.84 million. (see list of Phase V humanitarian contract applications) Since the first arrivals of humanitarian supplies in March 1997 a total of 10 million tonnes of foodstuffs worth $3.26 billion and $594 million worth of medicines and health supplies have arrived in Iraq. In the past week, arrivals included 66 thousand tonnes of wheat, 2450 tonnes of detergents and soap, surgical materials, hepatitis and other vaccines, copybooks for primary schools, school desks, pumps and accessories, cesspool emptying tanks and liquified chlorine gas.
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