VOL. XLII
No. 32
9-August-1999
IRAQ
UNCC Awards Kuwait And Saudi Oil Companies $2.8bn; Excludes$10bn Time-Exchange Deals
The United Nations Compensation Commission (UNCC), mandatedto determine Gulf War reparations, has awarded over $2.8bn in compensationunder the second installment of E1 claims to Kuwaiti and Saudi oil companies.The majority went to the Kuwait Oil Company (KOC) which was allocated $2.2bn,while Saudi Arabian Texaco is to receive $505.6mn for losses suffered duringthe Gulf war....
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