RE: KRG Oil production, export, consumption and revenue report3 May 2020 12:17
That means the “declared “ daily production around 438000 bpd but where is the alleged undeclared figures that the central government accuses the krg of oil smuggling which estimated at an additional 1.5 mbpd!!
Also the previous agreement between the central government and the krg is they give back to the central government the revenue of 250000bpd but the krg never did...and currently the central government cuts the budgetary portion to Kurdistan and many thousands of employees are not getting paid..
The Kurdistan Financial situation at present is very difficult and at it’s worse with the current oil price as they are 85% oil dependent.
There is a lot more discussion to take place between the krg and central government regarding oil and gas exploration and revenues . Corruption is rife with both...
IOCs are working in a corrupt region which is going to be very difficult for them to progress in their future investment growth and hence the SP of the like of Gkp and Genl are deeply cut to their real values by the market due to the geopolitical situation out there ,which is right..
Gkp and Genl share prices will continue to respond to oil price and also be hindered by the instability in Iraq and Kurdistan province autonomous region.