Amid a bitter dispute with the central government in Baghdad over the legality of its independent oil sector (https://www.mees.com/2022/6/24/geopolitical-risk/krg-hands-baghdad-oil-sector-counter-proposal/7a3ac880-f3b8-11ec-9e51-bd8690e66182″>MEES, 24 June), Iraq’s semi-autonomous Kurdistan Regional Government (KRG) can at least take solace that gross oil revenues are surging. The latest audited figures from Deloitte show that revenues exceeded $3bn in Q1 – easily the highest quarterly figure since Deloitte began auditing the sector in 2017.
Once Q2 figures are released they should show a further increase given that oil prices surged in late February following Russia’s invasion of Ukraine and have remained over $100/B for most of the period since. (CONTINUED – 1683 WORDS)
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https://www.mees.com/2022/7/29/economics-finance/krg-revenues-up-but-dire-finances-political-disputes-with-baghdad-linger/2a91c040-0f37-11ed-b3cf-cd444983b22b”>