| |
Oil Exports (By Phase)
Basic figures
The first oil under the programme was exported on 10 December 1996.
For the first three six month phases the Security Council set a ceiling of two billion dollars on oil exports in each phase.
For phases IV and V the ceiling was raised to $5.2 billion but the low price of oil and the state of Iraq's oil industry put that out of reach.
In phase VI, the Security Council, resolution 1266 (1999), recognized the earlier shortfalls and permitted Iraq to export an additional $3 billion worth of oil.
Security Council resolution 1284 (1999) removed the ceiling on Iraqi oil exports.
The table shows oil exports since the beginning of the programme:
Updated on 7 February 2003
| Phase I - VIII | Volume of oil
(millions of barrels) | Value of oil exported
($million) |
|---|
| One | 120 | 2,150 |
| Two | 127 | 2,125 |
| Three | 182 | 2,085 |
| Four | 308 | 3,027 |
| Five | 360.8 | 3,947 |
| Six | 389.6 | 7,402 |
| Seven | 343.4 | 8,302 |
| Eight | 375.7 | 9,564 |
| Total | 2,206.5 | $38,602 |
| Phase IX - XIII | Volume of oil
(millions of barrels) | Value of oil exported
(€million) |
|---|
| Nine | 293 | €6,668 (or $5,638) |
| Ten | 300.2 | €6,004 (or $5,350) |
| Eleven | 225.9 | €4,886 (or $4,589) |
| Twelve | 232.7 | €5,517 (or $5,639) |
| Thirteen | 107.2 | €2,710 (or $2,925) |
| Total | 3,365 | €25,785 (or $24,141) |
|
