Last updated at: (Beijing Time) Wednesday, July 24, 2002
Iraqi Oil Exports Spike under UN 'oil-for-food' Program
Iraqi crude exports spiked to 9.8 million barrels over the past week, the highest volume overa seven-day period since the start, in late May, of the current phase of the UN "oil-for-food" program, according to the UN Office of the Iraq Program.
Iraqi crude exports spiked to 9.8 million barrels over the past week, the highest volume overa seven-day period since the start, in late May, of the current phase of the UN "oil-for-food" program, according to the UN Office of the Iraq Program.
The office said Tuesday in a weekly update that with the average price of Iraqi oil set at 24.5 US dollars per barrel, the week's exports netted an estimated 240 million dollars in revenue.
Despite the recent rise in exports, an accumulated shortfall has left nearly 1,000 approved humanitarian supply contracts, worth almost 2.1 billion dollars, without funding, the office said.