Iraq resumes oil exports to world markets

12/16/1996
David Knott Senior Editor Iraqi crude oil was headed for a Turkish refinery at OGJ presstime, after Iraqi and United Nations officials concluded an oil-for-aid deal that has taken almost a year to hammer out. U.N. Resolution 986 calls for $2 billion worth of Iraqi oil to be exported for 6 months, with revenues to be used for purchase of food and medical supplies badly needed by Iraqi citizens. The main reason the deal went ahead this time, after months of wrangling earlier led to abandonment of the resolution in a salvo of missiles, seems to be Baghdad's need to save face despite continuing economic problems. A U.N. official in New York told OGJ that on Dec. 9 U.N. Sec....
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