Iraq-Business News

  In Global, Iraq-Business News

KRG nets $4.5bn Oil Revenues for 2019

The KRG’s Regional Council of Oil and Gas Affairs has published a report containing verified statistics covering the Kurdistan Region’s oil exports, consumption and revenues for 2019.

The report, available in Kurdish, English and Arabic, provides a quarterly analysis of oil export information and average prices, together with a consolidated annual overview.

The data verification was performed by Deloitte.

The KRG regularly assesses what additional disclosures would enhance the transparency of its oil and gas sector. Accordingly, with the release of the 2019 report, the KRG is now providing information on the prepayment balances it owes to oil traders.

The Regional Council for Oil and Gas Affairs acknowledges the positive feedback received so far from domestic and international stakeholders. The council reiterates its commitment to the people of Kurdistan that Deloitte will continue to independently review the region’s oil and gas sector.

A frequently asked questions handbook (also available in Kurdish, English and Arabic) will help readers to understand the report’s contents.

Please click here to download the full report.

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