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Texaco Gets Money, Iraqi Children Still Dying

July 13, 1999
New York Times

UN Awards $2.8 Billion to Oil Cos.

Filed at 7:14 p.m. EDT

By The Associated Press

The United Nations has awarded nearly $2.8 billion to several oil
companies, including more than $500 million to a subsidiary of Texaco
Inc., for damage sustained in Middle East oil fields when Iraq invaded
Kuwait in 1990. 

``If you remember those oil fires burning away on TV, that's what
happened to us,'' Texaco spokeswoman Kelly McAndrew said Tuesday
after the decision was publicized. ``The equipment, the facilities were
destroyed.'' She said the company expects to see the funds this year. 

The money comes from an account funded by 30 percent of Iraqi oil sale
revenue, which is retained by the U.N. Compensation Commission under
an agreement with Iraq. The commission rules on claims made by
companies and individuals. 

The commission gave the biggest share by far, $2.2 billion, to the Kuwait
Oil Co., which had earlier received about $600 million for extinguishing
oil well fires. 

The Texaco subsidiary, Saudi Arabian Texaco Inc., gets $506 million
plus unspecified interest. But the company said 85 percent will go to
income taxes in Saudi Arabia. 

Texaco said its subsidiary operates on behalf of Saudi Arabia in the
Partitioned Neutral Zone, which includes parts of southern Kuwait and
northern Saudi Arabia. The resources in the neutral zone are shared
equally between the two countries and operations are conducted through
a joint operations group staffed and funded by the Texaco subsidiary and
the Kuwait Oil Co. 

Several other American and British companies were awarded
compensation as well in the June 25 decision, but in much smaller

Halliburton Co., of Dallas, was granted $18 million; National-Oilwell, of
Houston, got $1 million; Cape East Ltd., of Britain, got $671,000;
Wood Group Engineering Ltd., of Britain, was awarded $591,000.

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