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In the third quarter of 2022, the Kurdistan Regional Government sold more than (38.12) million barrels of oil through the Turkish port of Jayhan.

In total, the oil of the Kurdistan Region in the third quarter of 2022 was transported by ships from seven different countries. Italian ships carried 27.6 percent, Israeli ships 22.2 percent, Greek ships 21.8 percent, followed by Croatian ships 6.9 percent, Romanian ships 5 percent, Taiwanese and Singaporean ships 2.6 percent each.

First, the Kurdistan Region's oil exports in the third quarter of 2022

The Kurdistan Regional Government (KRG) has exported 38 million 120 thousand barrels of oil through the Turkish World Port in July, August and September.

The average daily oil sales were 414,631 barrels.

In July 2022, the country exported an average of 430,323 barrels of oil per day. The monthly total is 13 million 340 thousand barrels.

In August of the same year, 11 million 560 thousand barrels of oil were exported, with an average of 372 thousand 903 barrels per day.

In September 2022, the Kurdistan Regional Government exported 13 million 220 thousand barrels of oil, an average of 440 thousand 667 barrels per day.

second; Kurdistan Regional Government (KRG) oil prices in the world markets

According to Deloitte, the Kurdistan Regional Government (KRG) has consistently sold its oil at $11-12 less than the market price.

In July 2022, when the average price of Brent oil was $111.93, if the Kurdistan Regional Government sold $12 less per barrel, that is $99.93 per barrel.

However, in August, the average price of oil fell to $100.45, so the KRG sold its oil at $88.45

While the price of oil fell sharply in September to an average of $89.77, therefore, the Kurdistan Regional Government sold oil at $77 per barrel.

The KRG’s oil revenues

According to Deloitte, 44% of oil revenues remain for the Kurdistan Regional Government after deducting the costs of the process, so the total revenue remaining for the Kurdistan Regional Government during the third quarter of 2022 is 1 billion 488 million 813 thousand US dollars, which is less than the amount that spent for the production prosses.