According to a new report by the Runbeen Organization, which monitors transparency in the Kurdistan Region’s oil sector, currently, eight oil fields in the Kurdistan Region are actively producing oil, collectively yielding over 300,000 barrels daily, amounting to approximately 9 million barrels monthly.

Following the suspension of oil exports on March 25, 2023, and the closure of Kurdistan’s export pipeline, production in many fields temporarily halted due to storage capacity limitations, except for Khurmala, which continued operations. Production resumed domestically at discounted prices from June onwards, and since late 2023, production has stabilized at over 300,000 barrels per day.

The Kurdistan Region produces oil from eight contractual areas. Throughout 2024 and into the first quarter of 2025, production levels from seven fields have consistently exceeded 310,000 barrels daily. The recently activated “Bijeel-Harir” field, operated by Rosneft, began production in late May 2025, adding 4,000 barrels daily (production from this field is not included in detailed analyses due to its recent activation).

Several fields remain inactive due to insufficient production potential, including Taq Taq, Chia Surkh, and Bashiq. Additionally, the Sarta field has been returned to governmental control due to significantly declining production levels.

Oil prices vary across fields, influenced by crude quality. Sarqala produces the region’s lightest crude, commanding higher prices, while Sheikhan produces the heaviest crude, priced lowest. Prices generally range between $27 and $39 per barrel.

The total monthly revenue from oil production exceeds $297,507,000, with approximately 72% allocated to the Kurdistan Regional Government (KRG) and 28% to operating companies. A detailed revenue breakdown per field is as follows:

1. Khurmala Oil Field: 90,000 barrels daily (2,700,000 monthly) at $32/barrel, generating $86,400,000 monthly, 90% to KRG ($77,760,000) and 10% to the operating company ($8,640,000).

2. Tawke-Fishkhabur (Tawke Contract Area): 81,081 barrels daily (2,462,430 monthly) at $35/barrel, monthly revenue $86,185,050, KRG share 72% ($61,951,050), company share 28% ($24,234,000).

3. Shaikan Oil Field: 44,900 barrels daily (1,347,000 monthly) at $27/barrel, monthly revenue $36,369,000, KRG share 57% ($20,664,866), company share 43% ($15,704,134).

4. Atrush Oil Field: 35,300 barrels daily (1,059,000 monthly) at $33/barrel, monthly revenue $34,947,000, KRG share 67.3% ($23,526,320), company share 32.7% ($11,420,680).

5. Sarsang Oil Field: 29,900 barrels daily (897,000 monthly) at $39/barrel, monthly revenue $34,983,000, KRG share 50.2% ($17,425,032), company share 49.8% ($17,557,968).

6. Erbil Oil Field: 9,024 barrels daily (270,720 monthly) at $33/barrel, monthly revenue $8,933,760, KRG share 70.3% ($6,284,007), company share 29.7% ($2,649,753).

7. Sarqala Oil Field: 8,500 barrels daily (255,000 monthly) at $38/barrel, monthly revenue $9,690,000, KRG share 60% ($5,814,000), company share 40% ($3,876,000).

8. Bijeel-Harir Field: Newly active, producing 4,000 barrels daily (production figures not included due to recent activation).

During recent ran-Israel war, oil previously routed through Iran ceased, slightly impacting production due to limited storage capabilities.

KRG Prime Minister Masrour Barzani’s economic advisor, Rebaz Hamlan, recently stated that current oil production stands at 280,000 bpd, with 100,000 bpd allocated to oil companies, 65,000 bpd to refineries, and 115,000 bpd sold on the open market, generating $85 million per month. However, a closer examination of field-level data and profit-sharing arrangements contradicts these figures. Independent assessments show that Q2 2025 production consistently exceeded 299,000 bpd, and the contractual company share does not exceed 84,703 bpd. The advisor’s claim of 100,000 bpd allocated to companies appears overstated by more than 15,000 bpd.

Further scrutiny reveals discrepancies in revenue estimation. The 115,000 bpd allegedly sold openly would generate $85 million only if sold at $24.63 per barrel—a figure far below market averages. In fact, crude from fields such as Tawke and Sarsang sells at $35–$40 per barrel. Based on this, actual revenue from these sales should be over $114 million, implying a loss of $29 million per month due to underpricing. This raises concerns about oil being sold to a small circle of politically connected domestic buyers, such as Business Unicorn (part of North Light Holding owned by KRG PM Masrour Barzani), Kar Group, Lanaz owned by Mansrour Barzani, and Qaiwan. These companies have reportedly acquired crude at rates up to 60% below market value.

Additionally, 65,000 barrels daily, totaling approximately 1,982,500 barrels monthly (calculated based on a 30.5-day month), are refined domestically. With each barrel containing 150 liters, this amounts to approximately 315,217,500 liters of refined products monthly. Refined products such as gasoline, diesel, and black oil are distributed at subsidized prices to gas stations and factories. For instance, gasoline is subsidized at 650 dinars per liter, diesel at 400 dinars per liter, and black oil provided to factories at approximately 150 dinars per liter. This results in a daily revenue exceeding $2,317,000 from these subsidized sales alone. Monthly revenue from gasoline and diesel sales surpasses $70,682,000, excluding additional revenue from black oil, white oil, jet fuel, and household gas.

Even more troubling is the reported cost of refining. According to Hamlan, $26 million per month—or $13.11 per barrel—is spent on refining. This is significantly above regional and international benchmarks. Previous data suggests that refining costs in Iraq have typically hovered around $5 per barrel. By simply reducing the refining cost to industry norms, the KRG could recover an additional $16 million monthly.

Hamlan also claimed that 20% of oil revenue, or $17 million per month, is allocated toward repaying past debts to oil companies. Yet APIKUR, a consortium representing many of these firms, has stated that no repayments have occurred.

Taken together, the advisor’s statement that only $8 million in monthly oil revenue is available to the KRG appears highly implausible. Not only does this underestimate crude sales, but it also completely omits the substantial revenue from refined products. In reality, the KRG could be generating over $120 million per month if it exercised better pricing discipline, reduced inflated refining costs, and properly managed contractual obligations.