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Oil Exports (By Phase)
Basic figures
The first oil under the programme was exported on 10 December 1996.
For the first three six month phases the Security Council set a ceiling
of two billion dollars on oil exports in each phase. For phases IV and
V the ceiling was raised to $5.2 billion but the low price of oil and the
state of Iraq's oil industry put that out of reach. In phase VI, the Security
Council, resolution 1266 (1999), recognized the earlier shortfalls and
permitted Iraq to export an additional $3 billion worth of oil. Security
Council resolution 1284 (17 December 1999) removed the ceiling on Iraqi
oil exports.
The table shows oil exports since the beginning of the programme:
Updated on 21 February 2003
Phase I - VIII
(period) |
Volume of oil
(millions of barrels) |
Value of oil exported
(UN Sec Council ceiling)
($million) |
I (10 December 1996 - 7 June 1997) |
120 |
2,150
(2,000) |
II (8 June 1997 - 4 December 1997) |
127 |
2,125
(2,000) |
III (5 December 1997 - 29 May 1998) |
182 |
2,085
(2,000) |
IV (30 May 1998 - 25 November 1998) |
308 |
3,027
(5,200) |
V (26 November 1998 - 24 May 1999) |
360.8 |
3,947
(5,200) |
VI (25 May 1999 - 20 November 1999)
Extends phase VI until 4 December 1999
Extends phase VI until 11 December 1999 |
389.6 |
7,402
(5,200 + 3,000) |
VII (12 December 1999 - 8 June 2000) |
343.4 |
8,302
(no ceiling) |
VIII (9 June 2000 - 5 December 2000) |
375.7 |
9,564
(no ceiling) |
Total |
2,206.5 |
$38,602 |
Phase IX - XIII |
Volume of oil
(millions of barrels) |
Value of oil exported
(€million) |
IX (6 December 2000 - 3 June 2001)
Extends phase IX until 3 July 2001 |
293 |
€6,668 (or $5,638) |
X (4 July 2001 - 30 November 2001) |
300.2 |
€6,004 (or $5,350) |
XI (1 December 2001 - 29 May ) |
225.9 |
€4,886 (or $4,589) |
XII (30 May 2002 - 25 November 2002)
Extends phase XII until 4 December 2002 |
232.7 |
€5,517 (or $5,639) |
XIII (5 December 2002 3 June 2003) |
130.5 |
€3,348 (or $3,618) |
Total |
3,388 |
€26,423 (or $24,834) |
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