In the reporting period from 20 to 26 March, the oil
overseers report that Iraq exported 15.7 million barrels in 13 loadings,
with an estimated value of $206 million. This brings the total number of
barrels exported since the beginning of Phase V to 232.2 million barrles for
average export rate of 1.9 million barrels a day and revenue averaging $9.73
a barrel.
The overseers estimate the revenue generated from the
beginning of the current Phase (November 26 1998 to 24 May 1999) to be
approximately $2.235 billion. About 44 per cent of the oil has been
exported from Ceyhan in Turkey.
There was one additional contract for the export of Iraqi
oil approved. It was with a United Kingdom company to export 2,000,000
barrels of Basrah Light destined for the Far East, Europe and USA.
Since the beginning of the current 180-day Phase, the number
of contracts for the export of Iraqi oil approved by the overseers and the
Security Council's 661 Committee has reached 90 for a total of 333.9 million
barrels (182.3m Basrah Light, 151.6m Kirkuk).
During the same reporting period, the 661 Committee approved additional six
contracts for equipment intended to increase Iraq’s ability to produce oil
for export. The contracts were worth $443,750. The total number of oil
sector contracts approved so far is 401 worth $237,797,427. During the week,
the OIP received a further 41 contracts worth $28,590,982. The OIP has now
received 582 contracts with a total value of $312,644,419. The 661 Committee
put five oil sector contracts on hold last week. At present, there are 97
contracts on hold worth $31,750,992.
The 661 Committee approved additional 37 humanitarian sales
applications under Phase V last week for total approvals of 289, blocked
none and put two additional contracts on hold. The OIP has received 583
contracts for humanitarian supplies worth $1.3 billion under Phase V. Of
these, 289 worth $841.64 million have been approved and 7 worth $3.1 million
are on hold.
During the same period, the Committee approved an additional
contract under Phase IV that ran from 30 May to 25 November 1998. The total
approvals for humanitarian supplies for Phase IV is now 656 contracts worth
$1.44 billion. The Committee also put four contracts on hold under Phase IV.
These contracts were for the electricity sector with a total value of $3.4
million. There are currently 53 contracts under Phase IV on hold with a
value of $172.9 million.
Oil industry equipment and spare parts continue to arrive.
Shipments including ni-cad Batteries from Spain worth $ 949,980 and
forklifts from China worth $188,000 arrived at the Iraqi port of Umm Qasr.
Other arrivals included nearly 155,500 tonnes of wheat arrived through
Trebil and Umm Qasr, 1020.3 tonnes of infant formula milk, 58,425 tonnes of
rice, 1748.9 tonnes of detergent through the Umm Qasr, Trebil and Al-Waleed
entry points, dental equipment, surgical burs and basic sets for plastic
surgery.
Since its inception, the "Oil for Food" Programme has delivered
about 9.16 million metric tonnes of foodstuffs to Iraq, worth more than
$2.9billion and 540 million dollars of medicine and health supplies.
