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.