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Oil-for-Food Background Information
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Weekly Update
for 26 December 1998 to 1 January 1999
In the week from 26 December to 1 January, Iraq exported 15.7
million barrels of oil in twelve loadings from the port of Ceyhan in Turkey
and the loading platform of Mina al-Bakr in southern Iraq. The estimated
value of the exported oil is $132 million.
During the week the oil overseers approved a further six contracts
for the sale of Iraqi oil, five contracts remain pending. To date, 69
contracts have been submitted and 64 approved for a total of 240.5 million
barrels (122m Basrah Light and 118.5m Kirkuk). The overseers estimate the
revenue generated from the beginning of Phase V to be about $486 million.
In the same week, the Security Council's 661 Committee approved
three additional contracts worth $543,300 for the purchase of spare parts
and equipment for Iraq's oil industry. The total number of contracts
approved so far is 241 for $134,143,695.
To date, the Office of the Iraq Programme has received 457 oil spare
parts contracts for a total value of $246,200,966. The 661 Committee put
another eleven spare parts contracts on hold with a value of $1,893,974.
This brings the total number of contracts on hold to 144 worth $45,512,292.
There was one new contract for humanitarian supplies received under
Phase Three and ten under Phase IV. The Committee approved a further
thirteen contracts under Phase IV - so far 613 contracts for humanitarian
supplies under Phase IV have been approved worth $1.5 billion.
Authentication and certification of arrival of humanitarian supplies
continued at the Al Waleed, Trebil and Zakho crossings and at the port of
Umm Qasr. Arrivals included 13,181 tonnes of wheat; 34,700 tonnes of sugar,
three thousand tonnes of cooking oil and 1459 tonnes of powdered infant
formula milk as well as a number of shipments of medicine. Two shipments of
pipeline equipment, ordered under Phase III also arrived in Iraq. The
equipment, from Germany, is worth around eight million dollars.
Oil Spare Parts Contracts Approved 25 December 1998 - 1
January 1999
|
Country
|
Nature of Spares
|
Contract Value
|
| Belgium |
OIL SPARE
PARTS |
427,000
|
| Egypt |
BOILER TUBES |
98,000
|
| Switzerland |
MOTOR |
18,300
|
|
Value
of contracts approved this week |
543,300
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|
Value
approved up to 25 December |
133,600,395
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Total
approved to date: |
134,143,695
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Oil Contracts Approved During The Week 26 December
1998 - 1 January 1999
|
NATION
|
BARRELS
|
CRUDE OIL
|
DESTINATION
|
| Malaysia |
1,000,000 |
Basrah Light
|
FAR
EAST |
|
|
|
|
| Russia |
1,300,000 |
Basrah Light
|
USA&FAR
EAST |
|
|
|
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| Russia |
4,000,000 |
Basrah Light
|
EUROPE
& USA |
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| Russia |
2,000,000 |
Basrah Light
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EUROPE
& USA |
|
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| Switzerland |
4,000,000 |
Kirkuk
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EUROPE |
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| India |
4,000,000 |
Basrah Light
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FAR
EAST |
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| TOTAL |
16,300,000 |
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