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110 million barrels of oil were produced and sold worth $4 billion

2024-12-24 11:42:28

🔹 More than 300,000 barrels of oil have been produced daily in the Kurdistan Region, of this amount, 200,000 barrels were transported to Iran and Turkey by tankers and the rest were sold in the Kurdistan Region.

Monthly oil revenue is about $340 million, estimated to exceed $4 billion by the end of 2024.
🔹 If we interpret the average revenue and production of oil fields in the Kurdistan Region according to press and official information;
The average daily production in the Kurdistan Region is 301 thousand 604 barrels of oil, which means 110 million barrels of oil were produced during the year.
Each barrel was sold at half the price of Brent crude oil, estimated at ($35-40) per barrel.
 So, the daily revenue of oil produced excluding production costs and fees, will be (11 million) dollars and in 2024 the total revenue will reach (4 billion) dollars.

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