Iraq continues to sell oil, both under and outside UN control

Thursday, January 2, 2003

Iraq continues to export oil under United Nations auspicies.

UN officials said the regime of President Saddam Hussein exported 14.3 million barrels of crude oil in the week that ended on Dec. 27, Middle East Newsline reported. The officials said the exports were comprised of 10 loadings.

The UN Office of the Iraq Programme said Iraq netted revenues of $409 million for the oil-for-food program. The average price of Iraqi crude for the week was $26.90 per barrel.

Western diplomatic sources said Iraq exports much of its oil outside of UN auspices. These include shipments of oil through Jordan and Syria.

Officials said that the oil-for-food program generated $910 million over the latest phase. Phase eight of the program began on Dec. 5 and will end on June 3, 2003.

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