The volume of oil exported by Iraq under UN supervision dropped sharply last week from 16.4 million to only nine million barrels, the United Nations said Tuesday, October 2. In the week ending September 28, there were three loadings at Iraq's Gulf port of Mina Al-Bakr and five at the Turkish Mediterranean port of Ceyhan, the only two export outlets authorized under UN sanctions imposed on Iraq in 1990.
The average price of Iraqi oil last week was around $18.90 (€20.55 euros) a barrel, and the sales earned an estimated $170 million (€185 million), the office administering the UN's oil-for-food program said.
Iraq has exported 162.5 million barrels of crude since July 4, the start of the current phase of the program. The phase is the 10th since the program was established in December 1996 to enable Iraq to import essential goods under UN supervision. ― (AFP, United Nations)
© Agence France Presse 2001
© 2001 Mena Report (www.menareport.com)
