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The Kurdistan region has sold 32 million barrels of oil in 2023

2023-08-28 11:34:20

Draw Media

According to the Iraqi Oil Ministry, the Kurdistan Region sold oil worth $2.469 billion in the first three months of 2023. The difference between the report of the Iraqi Oil Ministry and Deloitte is $291 million.
 An official letter from the Iraqi Oil Ministry, which was sent to the Iraqi Ministry of Finance shows that, in the first three months of 2023 from (1/1/2023 to 25/3/2023), the Kurdistan Regional Government (KRG) sold oil as follows:
January 2023: (11 million 653 thousand 810) barrels of oil sold with an average of (75.552) dollars per barrel, the total revenue in January was (880 million 466 thousand 651) dollars.

February 2023: (12 million 419 thousand 713) barrels of oil sold at an average of (76.836) dollars per barrel, the total revenue in March was (954 million 274 thousand 988) dollars.

March 2023: (8 million 654 thousand 801) barrels of oil sold at an average of (73.299) dollars per barrel, the total revenue in March was (634 million 385 thousand 420) dollars.

Total oil revenue from 1/1/2023 to 25/3/2023 is:
Oil sales: 32 million 728 thousand 324 barrels
Average price per barrel: (75.4) dollars
Total revenue: (2 billion 469 million 127 thousand) dollars

The letter was sent by the Iraqi Oil Ministry to the Iraqi Ministry of Finance in order to ensure that the Iraqi Ministry of Finance is aware of the details of the KRG revenues and consider it during negotiations and revenue settlements between them.
The figures released by the Iraqi Oil Ministry differ from Deloitte's report on oil revenues in the first quarter of 2023. The Deloitte report says the average KRG crude oil price per barrel was sold for $67.6.
However, the Iraqi Oil Ministry report says the Kurdistan Region sold oil for $75.4 a barrel, that is the difference is $8.
According to Deloitte, in the first quarter of 2023 oil revenue was (2 billion 177 million 585 thousand) dollars.
According to the report of the Iraqi Oil Ministry, the oil revenue of the first quarter of 2023 was (2 billion 469 million 127 thousand) dollars, the difference is (291 million) dollars.

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