The
rate of contract approvals under the “fast track” process has been picking
up speed in recent weeks. Using
this process, based on approved lists in the food, health, water/sanitation,
education and agriculture sectors, OIP has "notified" the Security
Council’s 661Committee of 728 humanitarian supply contracts worth more than
$1.7 billion.
This represents 27
per cent of all contracts in these categories approved either by the Committee
or by notification under phases V to VIII.
Similarly, in the oil industry spare parts and equipment sector, using
the same “fast track” procedures, the UN group of experts has approved 35
contracts worth $31.2 million under phase VII since July of this year.
This represents 16 per cent of all contracts approved in this phase.
Under
normal procedures, the Committee in the past week approved 77 contracts for
the humanitarian programme in Iraq. In
phases IV to VIII the Committee has now approved $7.87 billion worth of
contracts for humanitarian supplies and put contracts worth $1.61 billion on
hold (centre/south of Iraq only). In
the oil sector, the Committee has approved 2,112 contracts worth just over
$1.1 billion and put 505, worth about $265 million, on hold. The total value
of contracts on hold in all sectors is now $1.87 billion.
In
the week to 8 September, Iraq exported 11.8 million barrels of oil with an
estimated value of $340 million. This
brings the revenue in the current phase eight which began on 9 June to around
$4,615 million from the sale of 185.2 million barrels of oil.
In the same period, the Committee approved four new
contracts for the export of Iraqi oil. This
brings the total of approved contracts in the current phase VIII to 103 with a
volume of over 391 million barrels (233.6 million Basrah Light and 158.2
million Kirkuk). Since the first
oil exports under the programme, on 10 December 1996, Iraq has exported 2,016
million barrels with a value of over $33.6 billion.
