Iraq prepared to resume oil exports today

Iraq is preparing, according to the decision taking by the Iraqi cabinet on Sunday to resume exports of crude oil following cessation of producing almost 2 million oil barrels every day for 30 days, in solidarity with the Palestinian people.

A source at the office of one Asian establishment which buys the Iraqi oil said "We on Sunday received a notification from the Iraqi sides concerned that states to resume oil exports as from Tuesday ( today) midnight." The source, which asked not to be identified added that this "notification reached us by Fax and we do believe that copies of it reached other sides which buy the Iraqi crude oil."

Iraq on Monday evening announced the resumption of oil exports operations following the decision taken in the meeting presided over by the Iraqi President Saddam Hussein.

At the meantime, Iraq exports from its two outlets in the south through the Gulf waters and in the north through the Turkish port of Jeihan on the Mediterranean export almost 2 million oil barrels according to the memorandum of understanding it signed with the UN in mid 1996, known as the "oil for food" agreement.

The same source said that "its establishment has one or more oil tanker near al-Baker port in the Gulf waters prepared to load the Iraqi oil at the beginning of the export operations," without giving further details. According to official Iraqi statements, the operations to export the Iraqi oil and loading the tankers will be ready technically when a political decision will be taken by the Iraqi leadership to this effect.