Kirkuk’s share of Oil Revenues is Over $100m

Kirkuk’s governor said on Sunday that the Iraqi government has allocated 132 billion Iraqi Dinars (ID) — over $100 million — to Kirkuk as its share of oil revenues in the first six month of this year. Kirkuk is one of Iraq’s major centers of oil production.

Since 2009, for each barrel of exported oil, the oil producing provinces in Iraq are given 50 US cents, according to a report from AK News. In a separate report AK News says the amount is $1 per barrel.

Kirkuk officials have repeatedly demanded that the Iraqi oil ministry allocate part of the oil revenues to the provinces where oil is produced, said Abdurrahman Mustafa, Kirkuk’s governor.

“Kirkuk’s oil budget in the first five months of this year amounted to 106 billion ID and when June’s share was added, it rose to 132 billion ID”, he said.

The governor also noted that the Kirkuk administration is planning to propose some projects for which the funds will be used.

“Only when the projects are approved, the Iraqi Finance Ministry transfers the money”, he said, adding that the budget, however, would not be withheld even if the approval is delayed.

(Source: AK News)

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