Posted on November 19, 2016 by Editorial Staff in Corruption, Economy, Oil & Gas
Iraqi oil worker. Photo: Reuters
SULAIMANI, Iraq’s Kurdistan region,— Up to 36,000,000 barrels of oil went missing over the first six months of this year, according to documents NRT has obtained, and the Iraq’s Kurdistan Regional Government’s (KRG) Ministry of Natural Resources (MNR) has not mentioned the loss, which amounts to $1.2 billion, in its monthly reports.
Figures NRT obtained from a special source show the figures the MNR publish every month on the amount of oil exports and the region’s oil revenue are different from several secret figures from the MNR itself.
There are differences between the MNR’s figures regarding the region’s oil exports, according to documents obtained by NRT.
More than 200,000 barrels of oil per day (bpd) went missing in the first six months of 2016.
The Kurdistan Region’s MNR said in its monthly report it produced 601,811 bpd in January 2016. However, according to leaked documents, the KRG produced 840,000 bpd in January.
The MNR said it produced 350,067 bpd in February. According to leaked documents, the MNR produced up to 810,000 bpd in that month.
The MNR reported it produced 327,371 bpd in March but the leaked documents reveal it produced 600,000 bpd in March.
The ministry produced 511,888 bpd in April, according to the MNR report, but the leaked documents show 600,000 barrels of oil per day were produced.
The MNR stated the region produced 513,041 bpd in May but the leaked documents show a different figure, which is 600,000.
The MNR report for the month of June shows 567,000 barrels of oil per day. The leaked documents show the MNR produced 570,000 bpd in June.
The total amount of oil produced over the first six months of this year amounts to 86,000,000 barrels of oil, according to the MNR’s monthly reports. Documents obtained by NRT show the total amount of oil produced over the first six months of 2016 to be 122,000,000 barrels.
The MNR has not reported 36,000,000 million barrels of oil, which was produced over this period.
The total amount of money which has gone missing from the Kurdistan Region’s oil sales amounts to $1.2 billion.
The amount is enough to pay three months of employees’ salaries, according to the current KRG austerity measures of withholding a portion of the salaries.