Kurdistan Region publishes latest independent report on oil exports

An petroleum facility in the Kurdistan Region. (Photo: Archive)
An petroleum facility in the Kurdistan Region. (Photo: Archive)

ERBIL (Kurdistan 24) – The Kurdistan Regional Government (KRG) on Monday published an audit by a third-party firm that audits the autonomous region of Iraq's oil exports, consumption, and revenues for 2020.

The report, prepared by international “Big 4” audit and consulting firm Deloitte, is available in Kurdish, English, and Arabic and includes a quarterly analysis of oil export information and average prices.

Transparency has been a consistent and central talking point for the administration of Prime Minister Masrour Barzani, who has said that regular evaluations and additional disclosures are crucial to enhance the transparency of the oil and gas sector.

Beginning in 2019, the KRG began providing information about the prepayment balances it owed to oil traders. Later, in 2020 the disclosures were expanded to include reconciling production, exports, and domestic consumption.

According to a KRG statement, the regional government "acknowledges the positive feedback received thus far from local and international stakeholders and reiterates its commitment to the people of Kurdistan that Deloitte continues the independent review of the oil and gas sector in the region."

The full text of Deloitte's report can be viewed in PDF format and contains a review of the export, use, revenue, and expenditures of oil and gas in the Kurdistan Region for the period January 1, 2020, to December 31, 2020.

Editing by John J. Catherine