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 April 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Navy

Maritime Tension Dominates Southeast Asia Summit

Southeast Asian leaders edged closer to open criticism of China's land reclamation in the disputed South China Sea at a regional summit on Monday, as the Philippines

BIMCO Welcomes EU Decision on Migrants

BIMCO has stated today that it appreciates the new efforts by EU leaders to reduce increasing reliance on merchant shipping to rescue the growing numbers of

HMS Prince of Wales Bridge Sets Sail

The bridge section of the second Queen Elizabeth Class aircraft carrier set sail today from Glasgow on its first sea voyage to Rosyth.   Upper Block 07 is where

Energy

Maritime Tension Dominates Southeast Asia Summit

Southeast Asian leaders edged closer to open criticism of China's land reclamation in the disputed South China Sea at a regional summit on Monday, as the Philippines

Lagos Port Drags on Africa's Top Economy

Ruling party reforms improved Apapa port; shippers still face delays and corruption. The road leading to the Lagos port, which handles nearly everything that Africa's biggest economy imports,

Drydocks World Wins Dubai Chamber CSR Label

Drydocks World group the leading provider of maritime and offshore services to the shipping, oil, gas and energy sectors has received the Dubai Chamber Corporate

 
 
Maritime Contracts Offshore Oil Pipelines Pod Propulsion Port Authority Salvage Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | 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: 0.2120 sec (5 req/sec)