Update for the period 9 to 15 October 1999
During the week to 15 October 1999, Iraq exported a total of
13.0 million barrels of crude oil for an estimated revenue of $269 million
dollars. Since oil exports under phase VI began on 1 June there have been
294.1 million barrels exported for an estimated revenue of $5.364 billion. To
date, about 43 per cent of loadings have been made at Ceyhan.
The Security Council's 661 Committ ee approved one additional
contract for the sale of Iraqi oil. The contract for two million barrels of
Basrah Light to a United Kingdom company brings the number of approved
contracts to 80 with a total volume of 378.7 million barrels (211.5m Basrah
Lig ht, 167.2m Kirkuk).
The Office of the Iraq Programme has now received 602
contracts for humanitarian supplies worth $1.485 billion under phase VI. Of
the 422 contracts circulated to the Security Council's 661 Committee, 325
worth $850.4 million have been a pproved and 78, worth $100.4 million, have
been put on hold.
So far $1.56 billion worth of contracts for humanitarian
supplies have been approved under phase IV and $1.46 billion under phase V.
There are $31.7 million dollars worth of humanitarian supplies on hold in
phase IV and $492 million on hold in phase V.
The 661 Committee has approved $246.5 million worth of oil
spare parts and equipment in phase IV and put $49.59 million on hold. For
phase V, $321 million worth of oil sector contracts have been r eceived, $126
million approved and $82 million is currently on hold. For Phase VI, the OIP
has received $30 million dollars worth of contracts, $7.7 million has been
approved and $3.9million is on hold. (note:
a full listing of humanitarian and oil sector contracts for Phases V and VI
and and their current status is available on the OIP website) .
In the past week, the 661 Committee has put on hold two
contracts, both with Russian companies, worth more than $100 million intended
to improve the output of thermal power stations near Basrah, in the south of
Iraq. In the past, such large contracts for the electricity sector have taken
several weeks, even months, before being approved by the Committee.
One of the contracts put on hold last week is for equipment
intended for the Harthar power station and is worth $78 million. The reason
given for the hold was that the terms of payment included provisions which
have not been approved by the Committee and because items included in the
contract are subject to the export/import controls established by Security
Council resolution 1051. The second contract is worth $37.5 million and
includes two complete generating units for the Najibia power s tation. The
reasons given for the hold include conditions of payment and a request for
further technical specifications on items of equipment including control
systems for the generating plant.
Supplies purchased under the programme continue to arrive nor
mally: Arrivals over the past week included: 50,500 tonnes of wheat, 262
tonnes of infant formula and about 2400 tonnes of detergents. Other arrivals
included medicines such as chloriquine, paracetemol and antibiotics, a tugboat
and other oil industry equipment, agricultural equipment, sporting equipment
and vehicles for use as drinking water tankers.
