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Oil-for-Food Background Information
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Update for the period 14 to 20 August 1999
During the week to 20 August 1999, Iraq exported a total of 18.8 million barrels
of crude oil for an estimated revenue of $350 million dollars. Since oil exports
under Phase VI began on 1 June there have been 171.1 million barrels exported
for an estimated revenue of $2.886 billion.
So far, 78 contracts were submitted and approved, for a volume of 371.5 million
barrels (206.3m Basrah Light and 165.2 Kirkuk) .
The Office of the Iraq Programme has now received 162 contracts for humanitarian
supplies worth $689 million under Phase VI. Of the 48 contracts circulated to
the Security Council's 661 Committee, 25 worth $271 million have been approved
and six, worth $25.4 million, have been put on hold.
So far $1.542 billion worth of contracts for humanitarian supplies have been
approved under Phase IV and $1.389 billion under Phase V. There are $55.8
million dollars worth of humanitarian supplies on hold in Phase IV and $308.9
million on hold in Phase V.
The 661 Committee has approved $244.57 million worth of oil spare parts and
equipment in Phase IV and put $40.597 million on hold. For Phase V, $84.761
million in oil sector equipment has been approved and $84.467 million is
currently on hold. (note: a full listing of humanitarian and oil sector
contracts for Phase V and their current status is available on the OIP website -
www.un.org/depts/oip)
Goods purchased under the programme continue to arrive normally. Arrivals over
the past two weeks included: 93,000 tonnes of wheat, 16,000 tonnes of rice,
13,000 tonnes of sugar and smaller quantities of powdered infant milk formula.,
pulses and tea. Other arrivals included pharmaceuticals and medical equipment,
livestock vaccines, equipment for the overhaul of steam turbines, oil industry
equipment and educational materials.
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