24 October -- In the largest intake since the United Nations humanitarian programme for Iraq began in 1996, Baghdad last week earned $508 million dollars in revenue from oil exports, according to the latest statistics released today by the UN office in charge of the effort.
The record-breaking dollar figure for this week's revenue came when Iraq sold 19.4 million barrels of oil under the UN scheme that allows Baghdad to export its petroleum and use a portion of the earnings to purchase humanitarian goods. But while this week's value was the highest since the "oil-for-food" programme began, the volume of exports was slightly lower than the 19.6 million barrels sold for $503 million earlier this year when prices were down.
According to an official with the oil-for-food programme, Baghdad's earnings fluctuate based on supply and demand for Iraq's particular type of crude.
In a related development, officials from the World Food Programme (WFP) told the Security Council committee in charge of monitoring the sanctions against Iraq, that the lack of transportation equipment in the country was hampering efforts to unload relief aid from the Iraqi port of Umm Qasr. A number of contracts for equipment, such as trucks and forklifts that would alleviate this problem, are on hold in the committee pending the submission of more information.
|
NEWSLETTER
|
| Join the GlobalSecurity.org mailing list |
|
|
|
