Iraq's oil exports decline

Iraq's crude exports declined by nearly 2 million bbl to 5.3 million bbl last week, said United Nations officials supervising the oil-for-aid program.

By OGJ editors

HOUSTON, Aug. 28 -- Iraq's crude exports declined by nearly 2 million bbl to 5.3 million bbl last week, said United Nations officials supervising the oil-for-aid program that permits Baghdad to use a portion of its oil revenues to purchase humanitarian relief for Iraqi citizens.

Iraq received an average price of $25.85/bbl for its oil. That generated revenues estimated at $137 million during the 7 days ended Aug. 23.

During the past week, UN officials released $106.9 million worth of humanitarian supplies to Iraq, under new procedures aimed at speeding delivery of aid.

Among those supplies were 16 oxygen plants for production of oxygen for medical purposes, valued at $58 million total. The contract for those supplies had been on hold for almost a year because of concerns that the equipment might have military application, UN officials reported.

More in General Interest