Iraqi Oil Exports up

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Last updated at: (Beijing Time) Wednesday, September 25, 2002

Iraqi Oil Exports up

Iraqi crude oil exports increased under the United Nations humanitarian oil-for-food program, up to 13.3 million barrels for the week ending September 20 from 6.4 million barrels the week earlier.

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Iraqi crude oil exports increased under the United Nations humanitarian oil-for-food program, up to 13.3 million barrels for the week ending September 20 from 6.4 million barrels the week earlier.

This has registered the highest weekly volume over months.

The week's exports chalked an estimated 344 million US dollars,based on an average price of 25.70 dollars per barrel, the UN office for the Iraq program said Tuesday.

Despite the growth in Iraqi oil exports during the past week, the shortfall in the approved contracts for the purchase of humanitarian supplies increased to 2.32 billion dollars, leaving over 1,200 approved contracts without funds, it added.

The UN imposed sanctions on Iraq soon after Iraq invaded Kuwaitin 1990. The oil-for-food program was launched in 1996 to allow Baghdad to export oil in exchange for food and other essentials such as medicine.

Iraq has called for the lift of the sanctions as the program does not meet the 22-million population's most basic needs.

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