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In 2021, the Kurdistan Regional Government exported more than 151 million barrels of oil. According to the data collected, the average price of oil was more than 70 dollars in the world's markets. According to that, the Kurdistan Regional Government crude oil exports in 2021 had a value of more than 10 billion 670 million dollars.

But after subtracting the costs and considering the KRG oil price, which is 10 dollars cheaper than the world markets, only $3 billion and $870 million in revenue remains.

Brent oil prices in 2021

According to the Economy Country website, the price of Brent oil in the world markets for 2021 was 70.68 US dollars. As of October 2021, the highest was recorded, which was 83.54 dollars, and the lowest oil price of the year was in January 2021, which was 54.77 dollars.

KRG Oil Sales and Revenues in 2021

The Kurdistan Regional Government exported 151,211,000 barrels of oil to the world markets through the Turkish port of Jayhan in 2021.

The KRG's oil revenues before subtracting expenses and based on the oil price of the global market:

According to data collected, the Kurdistan Regional Government had the highest oil revenues in September 2021, with 13,090,000 barrels of oil exported, this month the oil price was 74.49 dollars.

 If The region's oil was not sold at a cheaper price, and without subtracting oil costs, its total value would be 1 billion, 35 million, and 411 thousand dollars.

The lowest income was recorded in January 2021, when 12,800,000 barrels were exported, and the total price of oil in that month was 54.77 dollars. According to which oil revenues in that month were 701,056,000 US dollars.

Regarding the region's total oil sales and revenues in 2021, the Kurdistan Regional Government (KRG) exported 151,211,000 barrels of oil, when the average oil price per year was 70.68 US dollars.

The oil exported by the Kurdistan Regional Government in 2021 without any cost and based on the world market is (10 billion, 670 million, 453 thousand and 860 dollars)

KRG Oil Sales and Revenues

(After subtracting the costs and selling at lower prices in the global market)

On June 28, 2021, in a joint meeting with the Kurdistan parliament, (Kamal Atrushi, Minister of Natural Resources, announced that 58% of oil revenues would be given to the oil companies and the oil production costs.

As he mentioned, 20% are the cost of extracting oil, 14% are Companies’ expenses, and 6% is the transportation, what remains is debt compensation.

Even though the region's oil is constantly sold for 10 dollars less than the world’s markets.

So, the revenue remains for the KRG in the sale of 151, 211, barrels of oil are (3 billion and 870 million 24,521 US dollars).

the KRG’S oil customers in 2021

In 2021, the region's oil was loaded from the Turkish port of Jayhan by 12 countries. The largest loading by Italian ships, which was 56,081,000 barrels of oil, by %37.1 of the KRG exported oil. The lowest amount of cargo was Polish and Bulgarian ships, with 600,000 barrels which were only 0.4 percent of the KRG exported oil.