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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: BigBull who wrote (61227)3/2/2000 9:23:00 AM
From: Think4Yourself  Read Replies (1) of 95453
 
Iraq Vows to Keep Exporting

BAGHDAD, March 2 (Reuters via energy24.com) - Iraq will keep exporting oil after it reaches revenue sales of $5.26 billion during the current phase of United Nations oil sales, according to Iraqi Oil Minster Amir Muhammad Rasheed.

?It's a simple computation - at present prices we have already signed contracts for more than $6.5 billion,' Rasheed said. ?We do not recognise the ($5.26 billion) ceiling. It is clear we do not take this into consideration.'

That point looks likely to be hit by the end of this month.

But Rasheed made clear that Iraq was not even tacitly accepting the sanctions-easing resolution by opting to pump through $5.26 billion. Since the fifth and sixth phases of the oil-for-food deal, ?we have not limited our exports by any ceiling - we have exported as much as we can,' he said. ?We only have technical limitations.'

x x x

Looks like Iraq is providing a reason to bomb the refineries being used for smuggling (again).
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