Deloitte report on Oil and Gas review in the Iraqi Kurdistan Region – Q1 to Q3 of 2020

The KRG’s Regional Council of Oil and Gas Affairs has published a report containing verified statistics covering the Kurdistan Region’s oil exports, consumption and revenues for period 1 January 2020 to 30 September 2020.

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

The data verification was performed by Deloitte.

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 Regional Council for Oil and Gas Affairs acknowledges the positive feedback received so far from 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.

Reports containing verified statistics can be found in Kurdish, English and Arabic. A frequently asked questions handbook (also available in Kurdish, English and Arabic) will help readers to understand the report’s contents.

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