Iraqi petroleum exports drop under UN 'oil-for-food' programme

Iraqi petroleum exports drop under UN 'oil-for-food' programme

Last week saw a sharp drop in Iraqi crude exports under the United Nations oil-for-food programme, according to the Office running the scheme, which allows Iraq to use a portion of its petroleum revenues to purchase humanitarian relief.

The Office of the Iraq Programme said that Baghdad's exports had plunged from the previous week's high of 18.6 million barrels to 11.2 million barrels in the week ending 23 November. The week's exports earned another €192 million (euros) or $170 million in estimated revenue. The average price of Iraqi crude oil was approximately €17.20 or $15.15 per barrel.

The current phase of the oil-for-food programme, which began in July, is set to expire on 30 November.

Meanwhile, the UN Iraq-Kuwait Observation Mission (UNIKOM) today held a handover ceremony between the incoming force commander, Gen. Miguel Angel Moreno of Argentina and his predecessor, Gen. John Vize of Ireland.

Named to the post on 15 November, Gen. Moreno previously served in 1993 as the commander of the Argentine Battalion in Croatia as part of the UN Protection Force. Two years later, he was an observer in the deployment of the multinational force headed by the United States in Haiti. He also served the UN as a Military Observer in the UN Iran-Iraq Military Observer Group in 1988.