New verified data on the Kurdistan Region’s oil exports, consumption and revenues have been published, covering the period from 1 January 2018 to 31 March 2018, after a review of the sector by the international “Big 4” audit and consulting firm, Deloitte.
As promised in the last press release with the issuance of the second report in August 2018, apart from enhanced disclosures on the cash flow reconciliation and disaggregate monthly prices realised during the period; a new section on local sales has been included, identifying crude oil sold locally and average price realised.
The Regional Council of Oil and Gas Affairs will continue working to enhance the reporting disclosure based on the feedback received from stakeholders. The Regional Council for Oil and Gas Affairs acknowledges the positive feedback received from stakeholders, including the international community, and reiterates its commitment to the people of Kurdistan that the two international audit firms, Deloitte and Ernst & Young, will continue to independently review the oil and gas sector, inclusive of all the streams.
The Regional Council of Oil and Gas Affairs expects the release of the fourth report covering oil exports, consumption and revenues for second quarter of 2018 (1 April to 30 June) in the near future.
- Deloitte’s report for the first three months of 2018 is accessible through this link (PDF), in Kurdish, Arabic and English.