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KRG: Oil revenues were (one billion and 128 million dollars)

2022-04-19 12:25:54

Kurdistan Region's oil revenues in March were (one billion and 128 million dollars), and 551 million dollars of which remained for the government, meaning 810 billion dinars, which is close to the salaries of the KRG’s civil servants, without the international coalition’s monthly financial aid, and 200 billion dinars from Baghdad.

According to a report presented at the last meeting of the KRG Council of Ministers by Omed Sabah, Head of the Council of Ministries Office of the Kurdistan Region in the presence of the Minister of Natural Resources, the region's oil revenues were as follows for March 2022.

 

Daily: 421 thousand barrels of oil are exported

March Exports: 11 million and 180 thousand barrels

The average price of a barrel is 100 dollars and 88 cents

The total revenue: was one billion and 128 million dollars

 

Companies’ expenditure: 472 million dollars, 42% of the total revenue

Pipeline rent: 60 million dollars 5% of the total revenue

Companies loan: 45 million dollars 4% of the total revenue

Total oil expenditure: 577 million dollars by 51%

The remaining amount for KRG: 551 million dollars by 49%

 

This means the total oil revenues for the government was 810 billion dinars when it requires 900 billion dinars for paying civil servant salaries in full. The data shows only the oil revenues are close enough to provide salaries without the other revenues.

 

Internal income is about 370 billion dinars

Coalition aid: 31 billion dinars

Baghdad budget: 200 billion dinars

 

The data presented by KRG proves that the Kurdistan Regional Government had enough money to distribute the March salary and before Eid al-Fitr start distributing the salaries of April, but by the decision of the President of the Kurdistan Regional Government, the distribution of salaries has been postponed so that the salary of April will be distributed after the Eid holidays, which will be close to May 10.

 

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