UN: Iraq has Sold more $36.2b of Oil since 1996
Iraq has sold more than 36.2 billion dollars worth of crude oil, or more than 2.1 billion barrels, since the beginning of the "oil-for-food" program in December 1996, the United Nations said Tuesday.
Iraq has also exported 282.5 million barrels of oil worth almost 7.20 billion dollars since the oil-for-food program's eighth phase began in June, a UN statement said.
The oil-for-food program, designed to offset the humanitarian consequences of the 10-year-old embargo on Iraq, lets Baghdad sell oil under UN supervision in exchange for food, medical supplies and other necessities.
In mid-August, the director of the UN program, Benon Sevan, called on Iraq and the United Nations to show more flexibility in the application of the program.
Baghdad has frequently complained of delays in the arrival of supplies, which have to be vetted by the UN sanctions committee, and accuses the United States and Britain of blocking its contracts with foreign suppliers.
Earlier this month, the Middle East Economic Survey reported that Iraq's oil production dropped 190,000 barrels to 2.81 million barrels per day (bpd) in September due to sales problems.
The survey said the production fall was mainly due to problems with sales of Kirkuk oil because of market difficulties.
Crude exports under the oil-for-food program accounted for 2.21 million bpd, while domestic consumption and cross-border trade with Turkey, Jordan, Syria and Iran was estimated at 600,000 bpd, the specialist newsletter said – BAGHDAD (AFP)
© 2000 Al Bawaba (www.albawaba.com)
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