The Kurdish Regional Government (KRG) generated $3.32 billion revenue from export and sales of oil for the first six months of 2017, the KRG announced on Tuesday.
“The average oil sales price for that period was $41.29 per barrel for barrel of oil through pipelines, at a time when average dated Brent price was approximately $51.71 per barrel,” according to the international auditing company Deloitte’s report on oil and gas.
The KRG, which has been accused by the Iraqi central government and opposition parties that 'oil revenue and sales is not transparent', signed an agreement with US-based Deloitte to have its financial transactions and data .
The feud between KRG and the Iraqi central government over the share of the oil revenues from the region hit a new high after illegitimate Kurdish referendum on regional independence in Sept. last year.
In the wake of the poll, Iraqi government forces have moved into several parts of the country “disputed” between Baghdad and the Erbil-based KRG, including the oil-rich Kirkuk province.
The central government has also imposed a raft of sanctions on the Kurdish region, including a ban on international flights.
By Firdevs Yuksel