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

Maritime Reporter @ 75: The Daily Cartoon

Maritime Reporter & Engineering News was founded by John J. O'Malley (1905-1980) in 1939, and today ranks as the world's largest audited trade publication in the world serving the maritime industry,

Today in U.S. Naval History: July 22

Today in U.S. Naval History - July 22 1802 - Frigate Constellation defeats nine Corsair gunboats off Tripoli. 1905 - Body of John Paul Jones moved to Annapolis, Md.

Unplanned Encounters Discussed at Navy CNO's China Meeting

Chief of Naval Operations (CNO) Adm. Jonathan Greenert has left the People's Republic of China (PRC) after a successful four-day counterpart visit with military leaders,

Energy

Maine Port City Bans Oil Loading

City councilors in South Portland, Maine, voted late Monday night to ban the loading of crude oil onto tankers along its waterfront, throwing up yet another roadblock

Editorial: Gas ... It's Both the Question & the Answer

When the time comes to pull an edition together, sometimes the content simply takes on a life of its own, as is the case with the July 2014 edition and the proliferation of ‘gas’ throughout.

Oil Products Flow to Primorsk Resumed

Russia resumed oil products shipments to Primorsk after a halt following "criminal tapping" of pipeline, a subsidiary of Russian oil pipeline monopoly Transneft said.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Naval Architecture Port Authority Salvage Ship Electronics 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: 0.0995 sec (10 req/sec)