Draw Media                                                

The total revenue of the Kurdistan Regional Government (KRG) in August after excluding oil expenditures was (970 billion) dinars, while oil revenue was (1 trillion 480 billion) dinars, of which (830 billion) dinars went for expenditures and (650 billion) dinars remaining for the government.

summary

Non-oil revenues

• Non-oil revenues for August = (287 billion) dinars (according to the latest statements of the Minister of Finance)

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

• Kurdistan Region's share of the Iraqi budget = (0) dinars

Oil revenues (pipeline exports)

• In August 2022, the Kurdistan Region exported 11 million 560 thousand barrels of oil through Turkey.

• The average price of Brent oil for August is $100.45

• Because the region sells its oil at $12 less, it sells oil at an average of $88.45

So: (11 million 560 thousand) barrels X (88.45) dollars = (1 billion 22 million 482 thousand) dollars.

• According to the latest Deloitte report, 56% of oil revenues go to the production companies and 44% remains for the Ministry of Natural Resources.

- So: (1 billion 22 million 482 thousand) dollars X (56%) = (572 million 589 thousand 920) dollars go to the cost of the oil process.

- (1 billion 22 million 482 thousand) dollars X (44%) = (449 million 892 thousand 80) dollars of revenue remaining for the KRG.