Development Fund for Iraq, Statement of Cash Receipts and Payments, 2003

… These liabilities are currently being ascertained and once identified, the remaining OFF funds will be transferred to the DFI. According to the United Nations, there are no restrictions, conditions or other covenants over the funds received from the OFF program. Further, the funds received are not repayable under any circumstances. 5. Net proceeds from export sales of petroleum Export sales of petroleum and petroleum products are arranged and invoiced exclusively by the Iraqi State Oil Marketing Organization (SOMO), the sales arm of the Ministry of Oil. Export sales of petroleum products were only made through barter transactions. There were no export sales of natural gas from Iraq, as there is no Iraqi infrastructure for exports of natural gas. The proceeds of export sales of petroleum and petroleum products are to be deposited in the “Oil Proceeds Receipts Account” (OPRA) and immediately thereafter, 95% is to be deposited …