UN Keeps Vigil Eye On Iraqi Surcharge

Monday, December 11, 2000
There is no chance of the United Nations turning a blind eye to any oil companies that pay a surcharge that Iraq is continuing to demand for its oil exports, United Nations diplomats said. "No way are we going to be turning a blind eye to this," one diplomat said when asked if the United Nations could overlook such payments."Industry sources said that Iraq is insisting that customers for its crude under the United Nations oil-for-food program pay a 40 cents per barrel surcharge direct to an Iraqi account before liftings resume. Under U.N. rules all revenues from oil-for-food go direct to a U.N. escrow account. Iraq's oil exports have been stopped for ten days on disputes over payments. A tanker chartered to the Indian Oil Corp (IOC) moved alongside at the Iraqi port of Mina al-Bakr on Monday, an industry source said. The tanker was one of six anchored that have been waiting outside the terminal to load crude since the suspension by Iraq of oil sales on December 1. "It's one step from berthing but that doesn't necessarily mean its going to start loading," the source said. A second tanker chartered to IOC is next in the queue at the port, the source said. Industry sources said earlier that buyers had been told they would have to pay a 40-cent surcharge, outside the terms of the U.N.'s oil-for-food deal with Iraq, to secure cargoes. There was speculation among dealers that state-owned IOC might have been excused the surcharge.
Maritime Reporter June 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Navy

The Martitime Security Focus Is Shifting

Former Vice-Admiral and Commander-in-chief of the German Navy Hans-Joachim Stricker, President of the German Maritime Institute (DMI), believes that in terms of

VSTEP Wins Mexican Navy Simulator Contract

The Mexican Navy selected VSTEP to supply a Class A NAUTIS Full Mission Bridge (FMB) Simulator and 24 NAUTIS desktop trainer stations for the Naval Academy in Veracruz.

Today in U.S. Naval History: July 29

Today in U.S. Naval History - July 29 1846 - Sailors and Marines from U.S. sloop Cyane capture San Diego, Calif. 1918 - Assistant Secretary of the Navy Franklin D.

Energy

Iraq's Kurds Have Right to Sell Oil While Squeezed by Baghdad

Iraq's Kurdish region has the right to keep selling oil as long as the Baghdad government keeps cutting its budget, the head of the Kurdish parliament's energy committee said on Tuesday,

Petroecuador Tenders to Buy 3.84m bbls of Naphtha

State-run oil company Petroecuador has launched tenders to buy a total volume of 3.84 million barrels of naphtha for delivery in the coming month at Esmeraldas,

Company Fined for Oil Spill Near Anacortes

Ecology issues $112,500 penalty for sunken vessel.   American Gold Seafoods faces a $112,500 penalty for an oil spill caused by the accidental sinking of its vessel,

 
 
Maritime Careers / Shipboard Positions Maritime Standards Naval Architecture Offshore Oil Pipelines Pod Propulsion Port Authority Ship Repair Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0963 sec (10 req/sec)