Iraq seeks UN approval for oil contracts

A Iraqi oil official stated yesterday that Iraq sent oil contracts signed with international companies to the United Nations for approval.

Baghdad had renewed contracts with international oil firms during the first phase of the oil deal except British, Japanese and Dutch companies, Saddam Zeban Al Hassan, head of Iraq’s State Oil Marketing Organization (SOMO) said.

According to the oil-for-food deal, valid from last December, Iraq is allowed to sell oil worth 2 billion over six months to buy food and medicine for the Iraqi people. "The contracts with international companies for the second six months are totally ready, and several of them have already been faxed to the UN for approval," said al-Qadissya newspaper.