Iraq signs 48 contracts to export oil

Iraq has signed 48 contracts to export oil, as part of the fourth stage of the oil-for-food program, reports Iraqi News Agency. Under the contracts, Iraq will sell 302 million barrels of oil in the six-month period that started on June 3.

Iraq has exported 72 million barrels between June and July, Map reported.

All contracts signed by Iraq must be approved by a U.N. committee supervising the sanctions enforced against Iraqi since 1990.