The Kurdistan Region exported 11 million 825 thousand barrels of oil in December, selling at an average price of $70 per barrel, earning $832 million 953 thousand. Of which $466 million for expenditure and $366 million remained for the government treasury.

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The exchange rate of the US dollar against the Iraqi Dinar was 1,450 Dinars, according to the Central Bank of Iraq.

Non-oil revenues

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

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

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

Oil revenues (pipeline exports)

• In December 2022, the Kurdistan Region exported 11 million 825 thousand barrels of oil.

• The average price of Brent oil for December was $82.44

• Because the Kurdistan Region sells its oil at $12 less, it has sold an average of $70.44 (although the value of the Kurdistan Region's oil is said to be about $20 less, but not officially or by Deloitte).

So: (11 million 825 thousand) barrels X ($70.44) = (832 million 953 thousand) dollars.

That is, in dinars, it is: (832 million 953 thousand) dollars X (1450) dinars = (1 trillion 207 billion 781 million 850 thousand) dinars.

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

- So: (832 million 953 thousand) dollars X (56%) = (466 million 453 thousand 680) dollars goes to the cost of oil processing.

- (832 million 953 thousand) dollars X (44%) = (366 million 499 thousand 320) dollars remaining.

Oil revenue in dinars is: (366 million 499 thousand 320) dollars X (1450) dinars = (531 billion 424 million 14 thousand) dinars.

Total Revenue in December 2022 (Dinar)

(531 billion 424 million 14 thousand) oil revenue + (287 billion) domestic revenue + (31 billion 500 million) allies = (849 billion 924 million 14 thousand) dinars