Iraq earns additional $129 million under UN 'oil-for-food' programme
The UN Office of the Iraq Programme reported that since resuming its oil exports on 10 July, Baghdad has sold 6.8 million barrels of oil. The average price of Iraqi crude oil during the week was approximately €25.42, or $21.71 per barrel.
Over the past week, nine new oil purchase contracts were approved by the Security Council committee monitoring the sanctions against Baghdad. Those contracts cover 51 barrels of crude, the Office reported. Currently, there are 45 approved oil contracts, amounting to almost 160 million barrels of oil.
The value of contracts placed on hold by the sanctions committee remained almost constant at $3.4 billion. During the past week, the committee released from hold 25 contracts worth $104.1 million, while placing on hold 58 new contracts valued at $105.3 million, the Office said.