Iraqi crude exports climb under UN's humanitarian 'oil-for-food' programme

5 November 2002

Continuing an erratic pattern which has characterized Iraq's petroleum sales in recent months, crude exports from that country jumped significantly over the past week under the United Nations oil-for-food programme, which allocates a portion of the revenue for humanitarian relief.

From the previous week's low of 5.1 million barrels, Baghdad exported 19.3 million barrels in the week ending 1 November, the Office of the Iraq Programme reported today. With Iraqi crude selling for an average of about €22.65 (euros) or $22.30 per barrel, the sales netted an estimated €440 million, or $430 million.

In another development, the Office reported that a UN team of five independent inspection agents arrived at the Ar'ar crossing point on the Iraq-Saudi Arabia border to finalize preparations for the establishment of a UN inspection site there.

The inspection site at Ar'ar, set to become fully operational on Friday, will be the fifth authorized border crossing for the import of goods under the oil-for-food programme.

UN independent inspection agents at authorized points of entry confirm and authenticate the delivery of humanitarian supplies to Iraq under the oil-for-food programme. The other four authorized entry points are at Iraq's borders with Jordan, Syria and Turkey, as well as at the Port of Umm Qasr in the Persian Gulf.

 

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