Iraq: UN reports 'below average' exports under oil-for-food programme

The United Nations humanitarian "oil-for-food" programme said today that Iraqi petroleum exports in the second week of the current Phase XI remained well below average.

The Office of the Iraq Programme, which oversees the scheme, said in its weekly update that Iraqi oil exports had registered a total of 6.4 million barrels in the week ending 14 December 2001, for revenue estimated at $100 million.

Meanwhile, the total value of contracts placed on hold by the Security Council's sanctions panel, known as the 661 Committee, continued to rise, standing at almost $4.63 billion, the Office said.

According to the latest UN figures, since the beginning of the oil-for-food programme on 10 December 1996, Iraqi petroleum exports have earned an estimated $38.6 billion and €12.9 billion ($11.2 billion) in revenue from the sale of over 2.8 billion barrels of oil.