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Deloitte Publishes Report on KRG’s Oil and Gas Exports

Verified statistics covering the Kurdistan Region’s oil exports, consumption, and revenues for the period 1 January 2020 to 30 September 2020, prepared and verified by Deloitte, was published by the Kurdistan Regional Council of Oil and Gas Affairs on Friday.

The report, available in Kurdish, English, and Arabic, provides a quarterly analysis of the oil export information and average prices.

Transparency being central to the cabinet agenda, the KRG regularly assesses what additional disclosures would enhance the transparency of its oil and gas sector. Accordingly, from 2019, the KRG started providing information on the prepayment balances it owes to oil traders and in 2020 disclosures are further extended to include reconciliation between production and exports and local consumptions, the Kurdistan Regional Government said.

“The Regional Council for Oil and Gas Affairs acknowledges the positive feedback received so far from the domestic and international stakeholders. The council reiterates its commitment to the people of Kurdistan that Deloitte will continue to independently review the region's oil and gas sector,” it added.