Draw Media

The total revenue of the Kurdistan Regional Government (KRG) in May was 1 trillion 213 billion dinars. Last May, the Kurdistan Region sold 12 million 730 thousand barrels of oil at $100 per barrel, earning 1 trillion 859 billion dinars. Only 818 billion dinars of that amount went for the government treasury.

Non-oil revenues

• Non-oil revenues for May = (164 billion) dinars (which will be spent on salaries, otherwise according to information, the amount is almost double)

• Coalition financial aid to the Peshmerga forces = (31 billion 500 million) dinars

• Kurdistan Region's share of the Iraqi budget = (200 billion) dinars

Oil revenues (pipeline exports)

• In May 2022, the Kurdistan Region exported 12 million 730 thousand barrels of oil through the Turkish Port of Jayhan

• The average price of Brent oil for May is ($112.73).

• Because the region sells its oil at $12 less, it sells oil at an average of $100.73

So: (12 million 730 thousand) barrels X (100.73) dollars = (1 billion 282 million 292 thousand 900) dollars.

In dinars, it is: (1 billion 282 million 292 thousand 900) dollars X (1450) dinars = (1 trillion 859 billion 324 million 705 thousand) dinars.

• According to the latest Deloitte report, 56% of oil revenues are spent on expenditures and 44% remains with the Ministry of Natural Resources.

- So: (1 trillion 859 billion 324 million 705 thousand) dollars X (56%) = (718 million 84 thousand 24) dollars go to the cost of oil production process.

In dinars, it is: (718 million 84 thousand 24) dollars X ((1450 dinars = (1 trillion 41 billion 221 million 834 thousand 800) dinars oil expenditure.

- (1 trillion 859 billion 324 million 705 thousand) dollars X (44%) = (564 million 208 thousand 876) dollars of revenue remain for government.

Oil revenue in dinars is: (564 million 208 thousand 876) dollars X (1450) dinars = (818 billion 102 million 870 thousand 200) dinars.

Total Revenue in May 2022 (in Dinar)

• (818 billion 102 million 870 thousand 200) oil revenue + (200 billion) share of the Iraqi budget + (164 billion) local income + (31 billion 500 million) from allies = (1 trillion 213 billion million 870 thousand 200) dinars.