No. 03



Iraq Signs Contracts For 1.4mn B/D Under Phase V

As of 8 January, the UN overseers have approved the export of 255.6mn barrels (1.42mn b/d) of Iraqi crude oil under Phase V of the oil-for-food program (see table below). More agreements are expected to be signed in the coming weeks. All the contracts are evergreen with the exception of the agreements with Switzerlands Harrico and Spains Lubna Trading. As in previous programs, Russia continues to lead all...