PM Masrour Barzani leads first meeting of the Regional Council of Oil and Gas Affairs

Erbil, Kurdistan Region, Iraq (GOV.KRD) – Prime Minister Masrour Barzani on Thursday led the first meeting of the Regional Council of Oil and Gas Affairs.

In the meeting, the Council discussed the revenue and cost of oil in the first half of 2022.

Opening the meeting, the Council was briefed on the total revenue from oil exports which included total production, exports, internal use, and the price per barrel during that period.

Thereafter, the Council discussed revenue expenditure on providing public servant salaries for the first half of the year. The Council noted that the KRG has provided full salaries throughout the first half of the year through oil revenues, in spite of the Federal Government providing only 400 million Dinars during that period as opposed to the over 1.2 trillion Dinars expected.

The Council then discussed other government expenditure beyond salaries, which have all been paid through oil revenue, adding that a Deloitte audited report is scheduled to be released publically next week, highlighting all details and expenditures.

The Council stressed the importance of transparency and emphasized Erbil’s provision of all data to the Federal Government and the public, which will continue.

Finally, the Council discussed the latest developments in relations between Erbil and Baghdad regarding the disputes concerning oil and gas, and the Region’s legal preparations based on the Constitution to face down Federal Government pressure. The Council stressed the importance of resolving issues in accordance with the Constitution and reiterated that the KRG delegation is ready to visit Baghdad to negotiate outstanding issues.