Iraq: UN sanctions committee approves oil prices for US market
The Office of the Iraq Programme also reported today that Baghdad had earned €294 million (euros) or $260 million in revenue under the programme over the past week. Iraq sold 14.9 million barrels of crude at an average price of €19.70 or $17.55 each.
Since the beginning of the programme on 10 December 1996, some $38.6 billion and €11.4 billion ($9.9 billion) in estimated revenue has been raised from the export of more than 2.7 billion barrels of oil, according to the Office. Almost $29.3 billion worth of humanitarian supply contracts have been approved since the start of the programme, including $2.5 billion worth of contracts for oil industry spare parts and equipment.
So far, about $15.6 billion worth of humanitarian supplies and $953 million worth of oil industry spare parts and equipment have been delivered to Iraq, while another $11.2 billion worth of humanitarian supplies and $1.5 billion worth of oil spare parts and equipment are in the production and delivery pipeline.