PM Barzani Chairs First Meeting of Council of Oil and Gas Affairs
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PM Barzani Chairs First Meeting of Council of Oil and Gas Affairs

ERBIL — Kurdistan Region Prime Minister Masrour Barzani on Thursday chaired the first meeting of the Regional Council of Oil and Gas Affairs to discuss 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," a Kurdistan Regional Government (KRG) statement said.

"Thereafter, the Council discussed revenue expenditure on providing public servant salaries for the first half of the year."

Through oil revenues, the KRG was able to provide full salaries throughout the first half of the year, "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 statement added.

Meanwhile, other government expenditure beyond salaries, which have all been paid through oil revenue, was discussed during the meeting, the statement said, noting that a Deloitte audited report is scheduled to be released publically next week, highlighting all details and expenditures.

The Council also underlined the importance of transparency and emphasized Erbil's provision of all data to the Iraqi 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 statement said.

"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."

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