ARABS-UN - Jan. 18 - Iraq Oil Production Could Drop Unless Repairs Made.Secretary-General sec·re·tar·y-gen·er·al n. pl. sec·re·tar·ies-gen·er·al A principal executive officer, as in certain political parties or governmental bodies such as the United Nations. Annan An·nan , Kofi Born 1938. Ghanaian diplomat who was appointed secretary-general of the United Nations in 1996. says Iraq's oil production was likely to drop unless the Security Council approved contracts for spare parts Spare parts, also referred to as Service Parts is a term used to indicate extra parts available and in proximity to the mechanical item, such as a automobile, boat, engine, for which they might be used. Spare parts are also called “spares. and other equipment to upgrade Baghdad's oil industry. In a letter to the council Annan says: "The current conditions of the oil facilities...call for prompt remedial action A remedial action is a change made to a nonconforming product or service to address the deficiency. Rework and repair are generally the remedial actions taken on products, while services usually require additional services to be performed to ensure satisfaction. ". He says: "Unless applications for contracts for key items of oil spare parts and equipment are approved expeditiously ex·pe·di·tious adj. Acting or done with speed and efficiency. See Synonyms at fast1. ex and are made available and commissioned within a short time frame, the production of oil is likely to drop, even under a regime of severe risk management". Annan says Iraqi oil exports during the current 6-month phase of UN oil-for-food program, which began on Dec. 12, are likely to slip by about 200,000b/d. His report says oil exports could be expected to run at 1.95-2mb/d compared to exports of 2.1646mb/d Iraq supplied during the previous 6-month or 180-day phase. (Iraq has been under UN sanctions Sanctions is the plural of sanction. Depending on context, a sanction can be either a punishment or a permission. The word is a contronym. Sanctions involving countries: Instrument, such as a deed, money, or property, that constitutes evidence of obligations between two or more parties and is held by a third party. It is delivered by the third party only upon fulfillment of some condition. account into which the oil revenues are deposited.) Annan says he and oil experts, hired by the UN, agreed with Iraq's request of US$600m in spare parts every 6 months. The council has allowed only $300m in spare parts every 6 months but is studying an increase after a report from a group of 6 experts currently in Iraq. Annan also complains about the number of contracts submitted to the council's sanctions committee that have been blocked, mainly by the US. He says that as of Jan. 13, the UN had received 1,991 applications for oil spare parts and equipment, worth US$1.1 bn. Some 1,391 contracts, with a value of US$721m, had been circulated to the committee. Previously he says, 900 contracts worth US$447m had been approved by the committee but that 538 applications, worth US$217.8m, had been placed on hold. |
|
||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion