Kurdistan exports 37 million oil barrels in 3 months
An oil pipeline in an oil field in Kurdistan. Photo: AFP
Baghdad (IraqiNews.com) – The Kurdistan region in northern Iraq exported more than 37 million barrels of oil in three months, with revenues exceeding three billion USD, according to Deloitte statistics reported by Rudaw news.
During the period from April 1 to June 30, 2022, Kurdistan region exported 37,618,577 barrels through pipelines, with revenues reaching nearly 3,79 billion USD.
According to the same data, Kurdistan government allocated around 1,63 USD to pay the financial dues, while other government expenditures for the export, transport and storage of oil exceeded 584 million USD.
After deducting all expenses, the remaining amount for the Kurdistan government was more than 1.57 billion USD, and it was allocated to pay salaries, according to the same source.
On May 12, the Iraqi Ministry of Oil mentioned that Kurdistan region allowed investment companies and foreign contractors to sell its oil shares, something the ministry considers defies the constitution.
The ministry mentioned in a statement that this contradicts Article 111 of the Iraqi constitution, which made it clear that oil and gas are properties of the Iraqi people.
Kurdistan region has been exporting its oil independently for years, away from the central government, under the oil and gas law that was voted on by Kurdistan parliament in 2007, and Baghdad considered it against the federal constitution.
In mid-March, the Federal Supreme Court of Iraq issued a decision obligating Kurdistan region to give its produced oil to the federal government.