The KRG has released reports prepared by Deloitte on oil production, export, consumption, and revenue in the Kurdistan Region between January 1 and December 31 of last year.
The Region pumped more than 152,549,610 barrels during the 12 months in 2021, according to the report.
The KRG brought in a gross of more than $9.125 billion for oil sales, Deloitte’s report said.
Accounting for various payments, tariffs, and other costs and debits, the net cash balance it received from sales was more than $3.964 billion.
Deloitte said $294 million and 310 million euros of KRG oil revenues “remains held in bank accounts in Lebanon” as banks there continue to restrict the movement of foreign currency outside the country, Esta Media Network reported.
The Region signed a contract with the international audit firms on October 5, 2015 to examine oil production and revenue in an effort to improve transparency.
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