During the week to 24 December 1999, Iraq exported a total of 12.6 million barrels of crude oil for an estimated revenue of $293 million dollars. Since oil exports under phase VII began there have been 14.6 million barrels exported for an estimated revenue of $340 million.
So Far, the Security Council's 661 Committee has approved 27 contracts for the sale of Iraqi oil with a total volume of 122.1 million barrels (65.1m Basrah Light, 57m Kirkuk).
The Office of the Iraq Programme has now received 1329 contracts for humanitarian supplies worth $2.8 billion under phase VI. Of the 881 contracts circulated to the Security Council's 661 Committee, 617 worth $1.27 billion have been approved. So far $1.57 billion worth of contracts for humanitarian supplies have been approved under phase IV and $1.5 billion under phase V. At present there are 425 contracts worth $1.053 billion dollars for the purchase of humanitarian supplies on hold: in phase IV, 23 contracts worth $36.6 million dollars are on hold; in phase V, 175 contracts worth $515 million and in phase VI, 227 contracts worth $502 million.
In Phases IV to VI, OIP has received 1833 contracts worth $1.12 billion for the supply ooil industry spare parts and equipment. Of these contracts, the 661 Committee has approved 860 worth $549 million and put 399 worth $286 million 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).
Meanwhile supplies continue to arrive in Iraq. Arrivals over the past week include: 25 thousand tones of rice, 7131 tonnes of cooking oil, 5308 tonnes of detergents and soaps, 2934 tonnes of powdered infant formula milk, as well as ampicillin and other medical lines.
For further information please contact John Mills on 1.212.963 1646