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Oil Industry Iraq

NEWS
August 4, 1998 | AMBERIN ZAMAN, SPECIAL TO THE TIMES
Openly flouting the U.N. blockade against Baghdad, Turkey has introduced regulations that, in effect, legalize the import and sale of ever-growing volumes of Iraqi fuel smuggled into this country.
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NEWS
June 20, 1998 | Times Wire Services
The Security Council agreed Friday to allow Iraq to spend $300 million of oil-for-food revenue to buy spare parts for its oil industry to meet increased export targets. Iraq is allowed to sell $5.25 billion in oil over six months in order to buy food, medicine and other humanitarian supplies for its people to ease the impact of sanctions imposed after it invaded Kuwait in 1990. But without spare parts for its oil industry, Iraq cannot meet its targets under the oil-for-food program.
BUSINESS
June 16, 1998 | NANCY RIVERA BROOKS, TIMES STAFF WRITER
The prospect of a worsening glut of oil drove prices down more than 8% Monday in the seventh straight daily decline, sending futures contracts below $12 a barrel for the first time since 1986. The fear of the day concerned Iraq, analysts said, with signals that export sanctions could be removed this year and allow Iraq to sell oil to a world market already swimming in too much crude.
BUSINESS
June 1, 1998 | Associated Press
Iraq's oil minister said his nation can increase its oil exports dramatically within three months. The scale of the increase, however, will depend on how quickly the United Nations approves a recommendation by Secretary-General Kofi Annan to allocate $300 million to repair Iraq's oil industry, the minister said. Iraq currently exports 1.6 million barrels a day and will soon increase that to 1.
NEWS
May 31, 1998 | From Times Wire Reports
Secretary-General Kofi Annan approved Baghdad's plan for distributing food and medicine purchased under the oil-for-food plan, paving the way for Iraq to export as much as $5.2 billion worth of oil over the next six months. Annan's approval of the distribution plan was the last major hurdle to be cleared before the next phase of the sales plan could begin. The current phase expires Tuesday. U.N.
NEWS
December 2, 1997 | Associated Press
U.N. Secretary-General Kofi Annan on Monday asked the Security Council to consider increasing the amount of oil Iraq can sell to raise money for food and medicine, though he did not recommend a specific increase in oil exports. U.N. officials said they urged him to double the $2 billion worth of oil Iraq now can export every six months, but he backed off on figures at the request of the United States. Two-thirds of the oil revenue Iraq receives goes to buy humanitarian goods.
NEWS
June 5, 1997 | From Times Wire Reports
The Security Council voted unanimously to approve a six-month renewal of its "oil for food" deal with Iraq to ease the plight of civilians who have been under crippling sanctions for nearly seven years. The United States and Britain supported the measure despite their complaints that the U.N. is not monitoring the distribution of supplies carefully enough.
NEWS
February 12, 1997 | From Associated Press
Skirting the shoals of Iran's Persian Gulf coast, tankers are smuggling tens of thousands of tons of fuel oil out of Iraq in violation of U.N. sanctions, a U.S. admiral said Tuesday. The embargo breakers and their Iranian protectors have had two confrontations with the Navy in the last two weeks, ramming a U.S. frigate in one showdown that wasn't publicized. "Our indications are that this is a rather sophisticated effort, centrally controlled within Iran," Vice Adm. Thomas B.
NEWS
December 11, 1996 | From Times Wire Reports
President Saddam Hussein was showered with flowers after making a surprise appearance at a pumping station to open the pipeline carrying the first Iraqi oil exports since the 1991 Persian Gulf War. But 29,000 barrels later, Iraq was stopped from pumping oil to Turkey, having jumped the gun before the United Nations formally approved any contracts for delivery of oil, U.N. officials said. Under a closely monitored U.N.
NEWS
December 10, 1996 | CRAIG TURNER and JOHN DANISZEWSKI, TIMES STAFF WRITERS
Iraq will be permitted to sell $2 billion worth of oil on world markets over the next six months in a long-delayed deal that allows President Saddam Hussein's government to use most of the proceeds to relieve malnutrition and disease in Iraq, the United Nations decided Monday. This will be the first break in the sanctions imposed on the Iraqi leader's government after the 1990 invasion of Kuwait that triggered the 1991 Persian Gulf War. But the U.N.
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